Ukrain President says building LNG terminal is the country top priority
Ukrain President says building LNG terminal is the country top priority
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Ukraine will also focus on renewable energy projects, including building one of the largest solar power plants in Europe, to reduce its dependence on natural gas imports, the report said.
The decision comes after an energy security meeting of the Yanukovych administration on Wednesday joined by the most senior energy and economic sector officials, including Energy and Fuel Minster Yuriy Boyko.
"Without any doubt, these projects will be accomplished," Yanukovych said in a statement. "I recommend these projects be developed under my patronage. I will share responsibility for these projects and will work on their realization."
The statement is the strongest backing yet for the LNG terminal that is supposed to reduce dependence on imports of natural gas from Russia, Ukraine's only supplier of gas.
The LNG terminal, which is expected to be built near Odessa, will have capacity of 10 billion cubic meters/year, according to government officials. The cost of building the terminal is estimated to be between $1 billion and $1.2 billion, according to industry analysts.
Ukraine is going ahead with the project and is expected to choose a company that would conduct a feasibility study of the Odessa terminal by the end of the year, Boyko said in the statement.
Preliminary talks with possible suppliers of LNG showed Ukraine could import gas at $190/1,000 cu m, including transportation costs, compared with about $250/1,000 cu m it currently pays Russia for gas delivered via pipelines, Boyko said.
Ukraine produces 20 Bcm/year of gas domestically, but also buys between 30 Bcm and 40 Bcm/year of gas from Russia to meet domestic demand.
SOLAR POWER
Ukraine, which has been dependent on nuclear and fossil-burning power plants, plans to open a major solar power plant later this year, according to Yanukovych.
"In the near future, I am confident, we will launch in operation many different plants, including one of the biggest solar power plants in Europe," Yanukovych said. "This could be done this year."
Ukraine plans to build several wind and solar power plants throughout the country, Vladislav Kaskiv, chairman of the national projects at the Committee of Economic Reforms, an economic body under Yanukovych, said.
These power plants would be build mostly in Crimea and Zaporizhia region,Kaskiv said.
More information is available at :
http://www.bharatbook.com/detail.asp?id=178920&rt=Europe-LNG-Export-and-Import-Markets-to-2015-Analysis-and-Forecasts-of-Terminal-wise-Capacity-and-Associated-Contracts-LNG-Trade-movements-and-Prices.html
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