Ukraine Offers To Develop Venezuela’s Oil, Gas Fields

October 19, 2010 · Posted in Business finance 
AHN News Staff

Kiev, Ukraine (AHN) – Ukraine has offered to help develop energy-rich Venezuela’s oil and gas fields. Ukrainian President Viktor Yanukovych made the offer on Monday during a meeting with visiting Venezuelan President Hugo Chavez in Kiev.

Talking to reporters after their meeting, Yanukovych, without elaborating, said that the development program would remain the top priority for the two countries. The Ukrainian president further said that Caracas also allowed Kiev to supply Venezuelan oil to Belarus through an oil pipeline. He did not elaborate further.

Diplomats see growing Ukraine-Venezuela energy relations as Kiev’s attempt to create an alternate source for its energy supplies. Ukraine imports a huge percentage of its oil supplies from former Soviet nation Russia and had been famously at odds with it over a gas pricing dispute last January – an incident, which disrupted European gas supplies. Ukraine also receives a portion of its energy demands from Venezuela. The ships carry Venezuelan oil through sea and then transported to Belarus through rail.

Later, Venezuelan President Chavez extended an invitation to Yanukovich to visit Caracas in the beginning of next year.

“Sessions of the bilateral working group will precede the visit by my friend Viktor,” Chavez said on Monday and added that Kiev would host the first session in November, while Caracas in December.

Besides developing cooperation in Ukraine’s gas, oil and energy sector, Chavez also seeks cooperation in the military-industrial complex, the petrochemical industry, agriculture and education.

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