Time for a Tripartite Gas Pipeline Consortium for Ukraine
The future of Ukraine’s gas transit pipeline is back on the agenda, and it is time for the European Union to come up with constructive ideas on what to do. Ukrainian President Yanukovich has signalled his interest in the idea of a tripartite Ukrainian-Russian-European consortium for the gas pipeline; the basic mechanism for which is clear enough, although many details would need to be negotiated, such as the distribution of shares between Ukrainian, European and Russian partners. The main question is whether it is worthwhile for the EU to pick up the issue and make a proposal. In this new Commentary, CEPS Senior Research Fellow Michael Emerson argues that there are four reasons why the EU should do so.