This was announced by Volodymyr Demchyshyn, Minister of Energy and Coal Industry of Ukraine, to journalists at the HIS CERAWeek conference, Censor.NET reports citing Interfax-Ukraine.
"It (Gazprom - ed.,) does not have such possibility even theoretically. Where to will it sell its gas?" he said.
According to the minister, construction of the 'Turkish stream'" needs time. Over that period, gas consumption in Turkey could increase.
He added that it is very difficult to finance such projects at the current margin. Gazprom is not getting too much money at the moment. For instance, at the price of $250 per 1,000 cubic meters, $100 covers transportation, $30-40 is production cost. Besides, there is an export duty paid to the budget. Thus, not much money is left to finance such projects," the Ukrainian minister explained.
"We understand quite well that such projects always have a different budget compared to what was planned initially. New money will have to be attracted; it will affect the company's balance. And financing costs have grown significantly for Russia at the moment," he said.