Saturday, March 3, 2012

EU: Ukraine is moving on gas reforms

The European Union says Ukraine has promised to make concrete reforms to the way it manages its natural gas sector in return for loans from international lenders.

Ukraine is seeking up to $4.2 billion to pay Russia for gas supplies as it struggles with a severe economic downturn. A payment dispute between the two nations halted European gas deliveries in January, cutting off heating to thousands of homes during a cold snap.

EU spokesman Mark Gray said Ukrainian Prime Minister Yulia Tymoshenko was proposing "a series of commitments with timeframes" to reform the way the country manages the purchase and transport of gas.

He did not give details but said she would discuss …

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