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EBRD to allocate $200 million to Ukraine for gas pipeline upgrade

November 11, 2014, 16:39 UTC+3 MOSCOW
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MOSCOW, November 11. /TASS/. The European Bank for Reconstruction and Development (EBRD) will allocate up to $200 million to the Ukrainian national energy company Naftogaz to modernize the Soviet-era export gas pipeline, the EBRD said on Tuesday.

The funds will be used to replace four sections of the Urengoy-Pomary-Uzhgorod gas pipeline running from gas fields in Russia’s West Siberia to western Ukraine, and also modernize a gas compressor station, the EBRD said in a statement.

The Urengoy-Pomary-Uzhgorod pipeline is a key part of the Ukrainian gas transportation system ensuring Russian natural gas deliveries to Europe and Ukraine’s gas imports from the EU, the statement said.

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