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Russia concerned about radicals' threats to hamper gas transit

Russia is concerned about the Ukrainian radicals' threats to hamper gas transit and hopes common sense will prevail in Kiev, said Russian president Vladimir Putin.

"We are seriously concerned about the Ukrainian radicals' statements and direct threats to hinder gas transit to Europe. We hope common sense prevails, and this will not happen," the president said at the oil and gas session of the St. Petersburg International Economic Forum.

Russian President Vladimir Putin called on the participants of the summit of the energy companies to work out an international format on the resolution of issues concerning the regulation of energy markets.

"We believe that the current system of regulation and coordination of efforts in the energy sphere to be neither sufficient nor perfect," Putin said addressing the summit, held on the sidelines of the World Economic Forum in St. Petersburg on May 22-24.

Prices for the Russian natural gas remain competitive despite US plans for the shale gas production, Russian President Vladimir Putin said on Saturday.

"Russia will not make unscrupulous use of energy prices in Asian and European markets," he said.

[Source: Itar Tass, St Petersburg, 24May14]

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