The European Bank may provide $150 million for Ukrainian gas-transport system overhaul
The EBRD understands that it will not be easy for Ukraine to do this job, as a year remains until parliamentary elections. But some targeted steps that would really help the bank and the government understand the situation at Naftogaz, where the money is going, and which subsidiary is losing the most, are necessary, Kuusvek said. Clarification and an audit are needed, he said.
The EBRD does want to have a hand in this project, and the reason it has been moving so slowly in recent years is partially that there have been such major political changes and upheaval in the country, Kuusvek said.
In preparations for the project, Mott MacDonald has already researched possibilities, he said.
There will be another series of meetings with representatives of the Energy and Coal Industry Ministry and Naftogaz Ukrainy before this month is out, he said. The EBRD would like to secure agreement on concrete steps already expected from Ukraine, he said.
If the project moves to the implementation stage, the credit will be issued under governmental guarantee, and the recipient with be that company that numbers the gas-transport system among its assets, Kuusvek said.
The EBRD's offices in Ukraine told Interfax that Mott MacDonald will present the results of its research in Kyiv on September 29 at a conference devoted to the modernization of Ukraine's gas-transport system. European Commission Energy Commissioner Gunther Oettinger will be involved in the conference.
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