Russia beggining development of response to new anti-Russian sanctions by USRussian Politics & Diplomacy August 22, 23:14
Investigators claim to have enough evidence to prove Serebrennikov guilty of fraudRussian Politics & Diplomacy August 22, 21:35
Washington tries to use events in Khan Shaykhun to justify its strike on Syria — MoscowRussian Politics & Diplomacy August 22, 21:31
Egypt to receive 15 Russian 'Alligator' helicopters in 2017Military & Defense August 22, 19:57
Christophe de Margerie LNG tanker covers Northern Sea Route in record 6.5 daysBusiness & Economy August 22, 19:32
Kirill Serebrennikov dismisses fraud accusations as absurdSociety & Culture August 22, 19:18
From climate to transport: Arctic projects of Russian and Japanese scientistsBusiness & Economy August 22, 19:10
Trump’s Afghan strategy implies attempts to address issues by military means — analystWorld August 22, 19:00
Russian defense chief tests new neural network-based combat moduleMilitary & Defense August 22, 18:41
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.