KIEV, June 20 – The creation of a company-operator of the Ukrainian gas transport system and underground storage facilities with the attraction of gas transport companies from member countries of the European Union and the United States will allow not only the modernization of the country's gas transport system and increase its capitalization, but also prevent the construction of bypass pipelines, according to Ukraine's prime minister.

"This gives a chance to stop the construction of South Stream and send all the volumes via the Ukrainian gas transport system, as EU members will be first interested in this," Prime Minister Arseniy Yatseniuk said, following the inclusion of the proposal on Parliament's agenda.