Ukraine's new President Viktor Yanukovych expressed hope on Monday that his country could sign a new gas deal with Moscow during the upcoming visit of the Russian president to Ukraine. "In regard to the future visit of Russian President Dmitry Medvedev to Ukraine, Viktor Yanukovych emphasized the preparation of several bilateral agreements, including a new gas deal," Ukraine president's press service said. Medvedev is scheduled to visit Ukraine on May 17.
Yanukovych needs to revise a long-term gas deal signed by ex-premier Yulia Tymoshenko and Russian Prime Minister Vladimir Putin in early 2009, which made Russian gas expensive for Ukraine and further strained Ukraine's meager finances. In a new deal, Ukraine will most likely offer Russia a stake in the Ukrainian gas transportation system in exchange for lower natural gas prices.
Russia has consistently tried to get a stake in the Ukrainian gas pipeline network to modernize the system and ensure uninterrupted gas supplies to Europe. Ukraine has so far resisted these attempts, saying this would jeopardize its sovereignty. Ukraine's Fuel and Energy Minister Yuriy Boiko is set to visit Moscow this week with gas issues to top the agenda of his meetings with Russian officials.
