Industry and Energy

Home page

Industry and Energy

Viktor Yanukovych: â€œNegotiations are underway between Ukraine, Azerbaijan and Turkey on cooperation in energy sector projectsâ€

27 January 2012 08:19 (UTC +04:00)

"We see the perspective," President Yanukovych said, adding that the negotiation parties practically confirmed their interest in these projects.
Two documents will be signed between the two countries on gas supplies to a LNG terminal and establishment of a Ukrainian-Azerbaijan company to develop the project to build the facility.

It is expected that the developer of a feasibility study for Ukrainian LNG-terminal, Spanish company Socoin will complete the work soon. The cost of construction of the terminal was decreased from $1.5 billion to $1 billion.

Ukrainian national project LNG terminal includes construction of a marine terminal for liquefied natural gas. Ukraine will be able to diversify gas supplies in the volume of 10 billion cubic meters of gas per year after implementation of the project.

Two protocols are being prepared for signing. There are technical issues that need to be considered by specialists. Undoubtedly, Ukraine will continue to work on transportation of the Caspian gas as a gas consumer and as a country that can take part in the construction of gas-transport systems involving our resources. It is very interesting for us," President Yanukovych said.