Direct Expenses of Ukraine on LNG Terminal National Project will Equal to 3-day Payment to Gazprom

abarrelfullabarrelfull wrote on 10 Apr 2012 21:11
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Today, 30 March 2012, a feasibility study of the National Project “LNG-terminal” was presented to public by the State Agency for Investment and National Projects of Ukraine. Presentation of feasibility study (FS) was attended by more than 250 representatives of leading companies in the energy sector, diplomats, officials and media. The FS was presented by the head of the State Agency for Investment and National Projects of Ukraine Vladislav Kaskiv, the President of Natural Fenosa Engineering (Sosoin) Arcadia Huttyeres Zapiko and the Chairman of the «LNG-terminal” Coordinating Board Vitaly Demjanjuk.

“Direct financial contribution of the state is equal 55 million. This is as 3-day payment to Gazprom. Meanwhile, the main objective of the project is to ensure the sovereignty of the state. According to the feasibility study, project can be realized within 49 months. The first volumes of gas can be obtained already in 2016″, said Kaskiv, head of the State Agency for Investment National Projects of Ukraine.

Mr. Kaskiv had announced the key points of FS: according to the research, the most optimal location of the project is District of Yuzhnyi, next to the ICC “Yuzhnyi.” Estimated capacity of the terminal is 10 billion m3, constructed in two stages. The project cost is 846 million euros. The proposed parameters of the project of feasibility study suggest that payback period will be 9 years.

As a key factor for project’s success, V. Kaskiv named strategic partnership of the state with private investors. The project implementation model includes PPP, where the state share in capital will be at least 25%. The recommended organizational model of the terminal includes establishing a consortium with the participation of influential players in the world market of LNG.

Head of the State Agency for Investment and National Projects of Ukraine also outlined plans of this project in 2012: “On 22 March 2012 the President of Ukraine by his own order das modernized the national project «LNG-terminal” to the national project “LNG-Ukraine”, which expands plans for alternative sources of gas supply to Ukraine, ” said V. Kaskiv.

In the first half of 2012 it is planned to create a Management Company «LNG Terminal” with participation of leading international energy companies. During the second half of 2012 an international consortium will be created, which includes international and Ukrainian investment and financial companies.

“It is important to emphasize that during the whole period we will be in active cooperation with our partner-countries in the Caspian and Black Sea region, including Turkey and Azerbaijan, for implementation of alternative options for gas supply to Ukraine. Today, this work looks very promising. This partnership includes implementation of projects on the territory of Ukraine and other countries”, – concluded V. Kaskiv.

As previously reported, 30 January 2012 Company «SOCOIN» has completed a feasibility study of the National Project “LNG-terminal”.


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