Ukraine looks for investors for pipeline consortium

The Ukrainian cabinet plans to finally determine the membership of investors in the consortium for Ukrainian gas transit network upgrade by the end of the current year, Ukrinform reported on February 11, citing acting Energy and Coal Industry Minister Eduard Stavytsky as saying on a working visit to Vienna (Austria).

“Over this year, the government will finally define a financial model for the Ukrainian gas transportation system's upgrade and membership of investors in a consortium for the upgrade,” a statement reads.

In this context, Stavytsky noted that this year, Ukraine assumed chairmanship in the Energy Community of Europe, therefore “will be able with the help of European counterparts to find the best option for an optimal GTS upgrade.”

In Vienna, the acting Minister had a working meeting with Janusz Kopacz, Director of Energy Community Secretariat, where they signed a Memorandum of Understanding, which will facilitate the arrangement of an efficient mechanism for implementation of European energy standards in the legal system of Ukraine.

Copyright: Ukrinform, 2014