You're reading: Naftogaz says assessment of gas transport system could be completed by July

Ukraine's state oil and gas company Naftogaz expects an assessment of the value of the Ukrainian gas transport system, including underground gas storage and infrastructure facilities, to be completed by the end of June 2012, Naftogaz Deputy CEO Vadym Chuprun has said.

"I think that this assessment will be done by July," he said in Kyiv on Monday, March.

Chuprun said that an independent assessment of the gas transport system is needed to create a trilateral consortium to manage and upgrade the system, as well as to avoid speculation in talks with partners on gas issues.

As reported earlier, with reference to EU Energy Commissioner Gunther Oettinger, that international financial institutions could decide to invest the modernization of the Ukrainian gas transport system, in particular, the first project, "at the latest in June-July this year."

It is expected that investment will come from the European Bank for Reconstruction and Development or the European Investment Bank.