Yanukovych invites Polish businesses to join LNG terminal construction, farming projects

Ukrainian President Viktor Yanukovych has called on Polish companies to join in the construction of a terminal for the delivery and re-gasification of liquefied natural gas (LNG) in Ukraine.

The president said this while speaking at the 11th Ukraine-Poland Economic Forum in Kyiv on September 20, which was also attended by Polish President Bronislaw Komorowski.

Yanukovych said a presentation of Ukraine's national projects and investment potential is scheduled for October 1, 2012 in Warsaw.

"I'm inviting all businessmen to visit this presentation. I would like to draw special attention to the projects in which we would like to see Poland as a partner. I mean [the construction of] an LNG terminal in Ukraine, industrial parks that require the creation of ten pilot industrial platforms in various regions of the country, and "green markets" that foresee the construction of a chain of wholesale farming product markets," he said.

The president of Ukraine stressed that Poland and Ukraine have significant undeveloped opportunities for interaction.

As reported, the LNG terminal in Ukraine will be constructed in two stages.

The project's first phase, with a capacity of 5 bcm per year, in the form of one floating storage and regasification unit that should be permanently moored to the pier until the completion of the LNG terminal, will be commissioned in 2016. This unit will be leased during the time that the terminal capacities on the shore are being constructed.

The second phase includes the construction of an onshore LNG terminal that can handle tankers with a capacity of 178,000 cubic meters, a total storage capacity of 540,000 cubic meters (three tanks) and an output capacity of 10 bcm of LNG. The second phase will be wound up in 2018.

Under the project, the LNG-terminal will be built near the town of Yuzhny, close to the oil terminal of public joint-stock company Ukrtransnafta and the Yuzhny commercial seaport in the Odesa region.