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2014-04-27 19:29:00

A DROP IN THE BUCKET

A DROP IN THE BUCKET

The European Union and Ukraine have agreed on terms to boost the flow of natural gas from the 28-nation bloc to the former Soviet state, Slovak pipeline operator Eustream said late Saturday.

"Representatives of Eustream and [Ukrainian pipeline operator] Ukrtransgaz will sign the document on Monday," Eustream said in a statement.

The two sides agreed that the fastest and least legally cumbersome way to provide Ukraine with a third EU-based gas delivery route--it already has gas-flow agreements with Hungary and Poland--is to use the pipeline between Vojany and Uzhgorod, an underutilized secondary pipe on Slovakia's eastern border.

The deal would mark Ukraine's third significant energy agreement with the West since a pro-European caretaker government came to power earlier following massive protests in Kiev.

To reduce dependence on Russia, its major trade partner, Ukraine earlier this month extended a nuclear-fuel supply contract with Pennsylvania-based Westinghouse Electric Co. until 2020 and renewed a gas-supply contract with German utility RWE AG.

wsj.com

Tags: RUSSIA, EUROPE, UKRAINE, GAS

Chronicle:

A DROP IN THE BUCKET
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GLOBAL ENERGY INVESTMENT DOWN 2%

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A DROP IN THE BUCKET
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U.S. OIL PRODUCTION + 143 TBD, GAS PRODUCTION + 1,066 MCFD

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A DROP IN THE BUCKET
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U.S. INDUSTRIAL PRODUCTION UP 0.6%

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A DROP IN THE BUCKET
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