REUTERS
Losses will be huge after the end of gas transit, as nothing has been done to integrate Ukraine's GTS into Europe's system.
Political and economic expert Taras Zahorodniy predicts the Ukrainian gas transmission system (GTS) will suffer losses from a halt to gas transit shipments after the completion of the Nord Stream 2 gas pipeline, and Ukraine will face serious problems.
Irrespective of what COO of NJSC Naftogaz of Ukraine Yuriy Vitrenko and CEO Andriy Kobolyev say, two-thirds of the company's profit are payments from transit shipments of Russian gas, the analyst told the Glavred news portal. According to him, in case gas transit shipments are suspended, the losses will be huge because nothing has been done to integrate the Ukrainian GTS into the European system.
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"We haven't created a gas hub at our gas storage facilities, which are the largest in Europe. We haven't started buying gas on the eastern border. I do not rule out an open act of sabotage by the two top managers to just earn on the GTS," he said.
Zahorodniy also suggested that it could be the game of the Russian gas monopolist Gazprom itself.
"I think Ukraine will face problems after Nord Stream 2 is completed. By the way, this is an example of how the Europeans turn a blind eye to their own demands when it is necessary. De facto, they ignore the fact that the construction of Nord Stream 2 violates the Third Energy Package," he said.
The expert explained that the only thing the United States can do to stop the North Stream 2 project is to introduce sanctions against those companies that will use the services of that gas pipeline.
"The U.S. is able to do this if they want. Yet, there has been no serious response from the United States... The construction of Nord Stream 2 slowly but steadily continues. De facto, it is being built at the expense of the funds Gazprom borrows from Germany, using shady schemes," he said.