Ukraine ready to reduce gas transit tariffs: Prez

Kiev, Nov 19 Ukrainian President Volodymyr Zelensky said that his country stands ready to reduce the cost of gas transit through its territory in an attempt to prevent the energy crisis in Europe.

In a phone conversation with European Commission President Ursula von der Leyen, Zelensky said that Ukraine can also provide its underground gas storage facilities for storing strategic fuel reserves, reports Xinhua news agency.

Zelensky and von der Leyen also discussed the idea of creating a regional platform for strengthening energy security.

Europe is facing an energy crisis due to the spike in natural gas prices as demand for fuel increases globally.

Ukraine, a key transit route for Russian gas to Europe, has a gas transportation system, consisting of more than 37,900 km of gas pipelines and 12 underground storage facilities.

In December 2019, the Ukrainian state energy company Naftogaz and Russia's gas company Gazprom signed a contract for the transit of gas from Russia to Europe for 2020-2024.

In 2020, Ukraine pumped some 55.8 billion cubic meteresof Russian gas to Europe.

According to the local media reports, the Russian-Ukrainian gas transit contract sets the tariff for transit at $31.72 per 1,000 cubic metres.