Three-four billion dollars needed to upgrade Ukraine’s gas pipelines - minister

April 25, 2014

$ 3-4 billion is needed for the top-priority stage of the Ukrainian gas transportation system modernization, Energy and Coal Industry Minister Yuriy Prodan told journalists, Ukrinform reported on April 24.

“In order that the GTS worked normally, and by the way, it works in the normal mode now, but, certainly, it is necessary to take modernization measures. I think that the top-priority stage is about USD 3-4 billion in order to start intensively investing in the GTS modernization,” the Minister said.

According to him, Ukraine approached Western companies with a proposal to create a gas consortium. “We approached relevant European structures and U.S. companies that we are ready to modernize and jointly exploit our GTS,” he noted.

The Minister stressed that there is no concrete forms of this consortium realization yet. “There is no concrete [forms] for realization of such consortium yet, which may be used for joint exploitation. We have not held official negotiations, but we have such proposals,” Prodan stressed.

On the part of Russia, there were no proposals to participate in exploitation of the Ukrainian GTS. “I am not sure that we are now ready to speak with the Russian side on this, but in any case, there are no proposals,” the Energy and Coal Industry Minister said.

Copyright: Ukrinform, 2014