Ukraine plans to build terminal in Black Sea

Jan 01, 2012 12:00 AM

Ukrainian President Victor Yanukovych announced plans to build a terminal for liquefied gas on the Black Sea coast.
The project is worth about $ 2.5 bn and is planned for realization by late 2015.

The Ukrainian Cabinet approved signing of an inter-governmental deal on liquefied gas supplies with Azerbaijan. Gas will be transported to the Black Sea water zone through Georgian ports.
The government believes that the initiative will attract new gas exporters and form a mechanism of competition for gas imports, reducing prices.

Observers say that construction of the terminal is an effort of the president to reduce dependence on Russian gas.
Ukraine is striving for reconsideration of gas contracts signed with Russia in 2009.

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