Russia’s Energy Minister poured cold water on Ukrainian hopes for major gas transit volumes after next year,

Russia’s Energy Minister poured cold water on Ukrainian hopes for major gas transit volumes after next year, saying that setting tariffs is too complicated to allow for any promises. He told Interfax in Moscow: “In any case, tariffs for the transportation of gas via the Ukrainian GTS should be competitive in comparison to other gas supply options. Otherwise such transit will be uneconomical for us.” The minister, Alexander Novak, added: “There is also another problem: the Ukrainian GTS is in a very run-down condition, its modernization requires large investment.”