Russian space budget may grow this yearScience & Space May 26, 20:48
Moscow hopes London High Court will deliver judgement on Ukraine’s debt to Russia soonBusiness & Economy May 26, 20:21
Hungarian top diplomat: EU must discuss anti-Russian sanctionsWorld May 26, 19:56
Russian, French top diplomats discuss preparations for Putin’s visit to FranceRussian Politics & Diplomacy May 26, 19:47
Moscow comments on Tallinn’s move to expel Russian diplomatsRussian Politics & Diplomacy May 26, 19:43
WADA: Legendary Isinbayeva suits role of ambassador for clean sports in RussiaSport May 26, 19:33
Russia working on advanced air defense systemMilitary & Defense May 26, 19:17
WADA receives Russia’s new national anti-doping planSport May 26, 19:14
Moldova’s ruling pro-European coalition breaks upWorld May 26, 19:12
KIEV, March 16 (Itar-Tass) —— The European Bank for Reconstruction and Development (EBRD) will assign funds for the repair of the Urengoi-Pomary-Uzhgorod gas pipeline in the case of the Neftegaz Ukrainy reform, Deputy Minister of Fuel and Energy Vladimir Makukha told the parliament members on Friday, commenting on the government’s draft law on the reform of the oil and gas sector.
“The implementation of the first pilot project for the Urengoi-Pomary-Uzhgorod gas pipeline modernisation with the EBRD participation has been suspended de facto,” the deputy minister said.
The bank stated the impossibility to continue financing the project before the reform in the oil and gas sector started, he said. “The goal of the aforesaid draft is to bring the Ukrainian energy legislation in accordance with the European,” Makukha said.
Now, Neftegaz Ukrainy even cannot dispose of its non-core assets, the deputy minister said.
In his words, the government is ready to adopt the opposition-proposed alternative law, which envisages restructuring of oil and gas enterprises, but prohibits their privatisation.
In July 2011, Ukraine launched the nine-year project for the Urengoi-Pomary-Uzhgorod gas pipeline modernisation. The first stage of the project is expected to be complete within three years. Investments in the first stage are estimated at over 538 million U.S. dollars. The share of the Neftegaz Ukrainy company in the funding of the project is 230 million U.S. dollars, while 308 million U.S. dollars will be assigned by the EBRD (loans) and the European Investment Bank.