The European Union signed an agreement with Ukraine in late March on modernizing the country's pipelines.
The European Commission has assessed investment in Ukraine's gas system at $3.3 billion to $4 billion.
The Ukrainian presidential representative for energy security issues Bohdan Sokolovskiy said that EU now is considering a completely different project. The Ukrainian proposal is looking at the possibility of building a new route of 60 billion cubic meters. The cost is $5 billion — $6 billion.
Russia's President Dmitry Medvedev warned that Moscow would take into account Kiev's pipeline agreement with the EU in considering Ukraine's request for a $5 billion loan.
Author: Ksenia Kochneva