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$6.5 billion needed for modernization projects of Ukrainian pipelines

08 July 2010 , 09:03Ukroil1641


Ukraine needs to attract $6.5 billion for investment projects to modernize its gas transport system, officials from the Ukrainian Fuel and Energy Ministry press office said. According to the ministry's data, this money will be spent on reconstructing the pipeline itself as well as compressors and gas distribution and monitoring stations. Underground gas storage facilities will also be improved.

"Investment projects to modernize the Ukrainian gas pipeline are meant to improve the reliability of transporting gas to European consumers, lower expenses on technical gas and reduce influence on the environment as well as support name-plate parameters of the main trunk pipelines", a news release from the ministry reads.  

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