The Cabinet of Ministers on 22 July approved the project of capital overhauling of the gas pipeline Urengoy-Pomary-Uzhhorod. The project will be financed by the European Bank for Reconstruction and Development and the European Investment Bank.
According to the Cabinet resolution, the modernization of Ukraine's GTS will be carried out within the framework of a EBRD and the EIB project. The total volume of financing under this project is at 300m euros. The Minister of Energy and Coal Industry Ihor Nasalyk did not specify on the overall finance requirements for the project.
The EBRD states that the tender procedures for the development of the gas transmission system by the Ukrtransgaz state-owned operator, are scheduled to be held in the 3rd quarter of this year.
Ukrtransgaz network consists of 36 thousand km of main gas pipelines, 70 compressor stations and 12 underground gas storage facilities with a total capacity of 30 billion cu m.