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Ukraine abandons plans for LNG terminal

February 25, 2014, 17:59 UTC+3 KIEV

The LNG terminal was to be built in the Odessa region

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Port of Odessa, where the LNG terminal was to be constructed

Port of Odessa, where the LNG terminal was to be constructed

© ITAR-TASS/Roman Kruchinin

KIEV, February 25. /ITAR-TASS/. Construction of an LNG terminal is not topical for Ukraine now, Ukraine’s acting Minister of Energy and Coal Industry Eduard Stavitsky told journalists on Tuesday.

“I believe we do not need the LNG terminal even for the price announced earlier,” Stavitsky said. “There are more tangible ways to diversify gas supplies – re-export from EU countries and shale gas production.”

Ukraine hopes gas re-export from Slovakia will yield “10 billion cubic meters of gas a year or more”, yet the other side has not signed the contract yet. Meanwhile, shale gas projects cannot be realized until spring 2015.

“According to the Cabinet’s and Shell’s project, investments will total $178 million. This year we’ll drill at least three wells,” Stavitsky said.

Previously, the LNG terminal was one of Ukraine’s priority projects. The president proposed the idea on August 25, 2010; construction was started late in 2012.

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