Tender to attract investors for Ukrainian GTS to be announced in 2015

14:45, 10.12.2014 1 min read

A tender to attract international investors for the maintenance and modernization of the Ukrainian gas transport system (GTS) will be announced in 2015.

The announcement of the tender came as part of a release on the government’s website late on Tuesday.

The creation of two public joint-stock companies, Main Gas Pipelines of Ukraine, and Underground Gas Storage Facilities, is also planned for 2015.

The government envisages the complete modernization of the Ukrainian gas transport system by 2020, carried out jointly with the European Bank for Reconstruction and Development (EBRD,) and the European Investment Bank (EIB).

The government has also announced that it plans to complete the full financial recovery of the national join-stock company Naftogaz Ukrainy by 2017.

It is also plans to build the Hermanowice-Drozdowicze gas pipeline, which would be 110 kilometers long, to increase natural gas supplies from Europe to Ukraine by 2018.

Ukraine also intends to continue negotiations with Turkey on allowing foreign tankers with liquefied gas to pass through the Bosporus.