Business news from Ukraine


27 May , 2020  

The Cabinet of Ministers at a meeting on May 27 approved a memorandum with Louisiana Natural Gas Exports on possible LNG supplies from the United States to Ukraine and the development of gas infrastructure with Poland. “The Ministry of Energy and Environment Protection has worked out a draft memorandum of cooperation between Louisiana Natural Gas Exports and the Cabinet of Ministers of Ukraine on facilitating gas supplies to Ukraine and improving gas infrastructure, which provides for exploring the possibility of diversifying natural gas supply routes by ensuring long-term supplies of liquefied natural gas and developing cross-border gas infrastructure in Ukraine and the EU,” Olha Buslavets, the acting Minister of Energy and Environment Protection, said.
According to data released by MP Oleksiy Honcharenko (the European Solidarity faction) on Telegram, the document provides for an annual LNG supply of about 5.5 billion cubic meters, and its price will be determined in accordance with the prices on the American gas exchange Henry Hub.
The memorandum, in particular, provides for the construction of a new gas pipeline between the gas hub Hermanowice (Poland) and the Bilche-Volytsko UGS facility. Project funding may include support of certain U.S. and European government agencies.
Final agreements may include a long-term agreement for the supply of LNG from the United States to Ukraine, an agreement on gas storage in Ukrainian underground gas storage facilities, an agreement on the construction and operation of necessary infrastructure between Poland and Ukraine.

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