by Daniel J. Graeber
Washington (UPI) Oct 25, 2017
Amid spats with Russia over natural gas, Ukraine's prime minister said Wednesday the economy for the former Soviet republic is on pace to grow at a decent clip.
"The economy is showing resilience," Ukrainian Prime Minister Volodymyr Groysman was quoted in state media as saying. "We are planning 3 percent growth for the next year."
While stronger that advanced industrialized economies, the prime minister said that growth rate should be closer to at least 5 percent. To advance, he said, the country needed to improve the business climate and take a "worthy place in Europe."
Ukraine serves as an energy bridge for Europe, hosting the pipelines that carry about 20 percent of the Russian natural gas headed west. Geopolitical risks to energy security escalated as Kiev moved closer to the European Union in recent years.
In an annual review, the International Monetary Fund said Ukraine needs to enact structural reforms in order attract investors to its oil and gas sector and reduce its import dependency. Private gas traders, meanwhile, need to be able to compete with state-controlled gas company Naftogaz.
European markets may draw on natural gas from Azerbaijan as a way to break the Russian grip on the regional energy sector though a network dubbed the Southern Corridor. Russia, meanwhile, could get around Ukraine by twinning its Nord Stream gas pipeline through the Baltic Sea to Germany.
Russian news agency Tass reported that Ukraine is pushing for an alternative to Nord Stream through alternative delivery points in the country. According to the report, that comes amid possible delays in the Nord Stream extension.
Russian Energy Minister Alexander Novak said Kiev's position on the project was irrelevant.
Despite the push for diversity in the European market, Russian natural gas company Gazprom, which controls both the supplies and the transit arteries, said markets in the European Union still needed Russian gas because of the lack of EU production.
Ann Arbor MI (SPX) Oct 24, 2017
Despite widespread concern about potential human health impacts from hydraulic fracturing, the lifetime toxic chemical releases associated with coal-generated electricity are 10 to 100 times greater than those from electricity generated with natural gas obtained via fracking, according to a new University of Michigan study. The study is a comparative analysis of the harmful health effects ... read more
All About Oil and Gas News at OilGasDaily.com
|The content herein, unless otherwise known to be public domain, are Copyright 1995-2017 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement|