Ukraine Gas Transportation System Needs Overhaul to Bring Profit

© Sputnik / Alexandr Kryazhev / Go to the photo bankEnergy Minister Alexander Novak
Energy Minister Alexander Novak - Sputnik International
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Ukrainian gas transportation system requires modernization to be commercially viable, because most new projects are carried out based on the latest technology, Russian Energy Minister Alexander Novak said Friday.

IZMIR (Turkey) (Sputnik) — The Russian energy minister said that all new projects in this field, including Nord Stream 2 and Turkish Stream were carried out based on the latest technological advances, allowing saving money and having higher transportation speed and fewer losses.

"Ukraine's gas transportation system is not just old [physically], but old technologically and generally obsolescent… That is why, Ukrainian gas transportation system, unless modernized, cannot compete," Novak said.

Ukrainian Energy Minister Igor Nasalik said earlier in August that Ukrtransgaz company might not be ready to transit gas if national oil and gas company Naftogaz failed to invest in the development of the system.

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