Energy Headlines

The Prime Minister of Ukraine Yulia Tymoshenko announces Ukraine views Japan as a key investor of the project on modernization and reconstruction of gas transport system of Ukraine. A respective statement was made by the Head of Government during the press conference today.

Yulia Tymoshenko imparted around Ukrainian program of modernization of the GTS a huge amount of investors gathered at the conference in Brussels – “it means investments will come to Ukraine”.

The Premier stressed to carry out modernization and reconstruction of Ukrainian GTS only 5.5 billion dollars are in need. This, according to the Head of Government, will increase the amount of transported gas along Ukrainian gas mains almost 1.5fold.

Yulia Tymoshenko emphasized after the system is modernized the shipment of the Russian gas to Europe will necessitate significantly lower amount of process gas, which means significant reduction of cost of transit.

According to the Prime Minister, a system of assessment of gas transported through the GTS has been improved: “After modernization and reconstruction we will have a system of gas assessment of 100% quality”.