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News // Oil and gas worldwide

Ukraine will buy Azeri gas and build its own LNG terminal in Odessa

15 June 2010 , 09:361news.az5922



Ukraine plans to purchase up to 5 billion cubic meters of gas from Azerbaijan, Ukrainian Fuel and Energy Minister Yuriy Boyko said after negotiations with Azerbaijan which is building a liquified gas terminal with Romania and Bulgaria in Kulevi, Georgia, RBK-reports. "We are counting on Ukraine buying 5 billion cubic meters of gas in the first stage and another five in the second, for a total of 10 billion cubic meters of gas", he said.

Boyko said building its own liquified gas loading terminal would cost Ukraine $1 billion, but he added building one in Odessa would give Kiev an alternative to Russian gas. He said the return on investment in the facility would be "very fast". Boyko said, "we have a program with the EU and within the framework of that program, the overall sum of financing will be $3 billion. Ukraine will propose building the terminal as part of that program, he said. 


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