Germany Prepared To Invest In Ukrainian Pipeline

German Chancellor Angela Merkel told Ukrainian President Viktor Yanukovych that her country is ready to invest in reconstructing the Ukrainian gas transport system, Korrespondent.net reports.
The website reported that she said this in reply to Yanukovych's offer to Berlin to participate in the project.
The Ukrainian pipeline currently pumps 80 percent of the gas Russia delivers to Europe. In March 2009, Ukraine signed an agreement with the EU on modernizing the pipeline, but the project got no further than words.
In February 2010, Yanukovych said an international consortium should be set up which would include both Russia and the EU to modernize the gas transport system. He said that doing so would encourage Russia to shelve its plans to build the Nord Stream and South Stream pipeline.