16:48 14.05.2015

Naftogaz to raise funds from EU for gas interconnection point with Poland

1 min read
Naftogaz to raise funds from EU for gas interconnection point with Poland

Naftogaz Ukrainy plans to attract financial resources from the European Union for the project building a gas interconnection point between Ukraine and Poland, the director for business development at the state holding, Yuriy Vitrenko, has said.

"If we are talking about a new interconnection point with Poland, it is more logical to talk about this with Europe rather than China. The interconnection point should have a pipe on the other side as well. We asked for the corresponding program of the European Union, which allows us to receive EU funding," he told reporters in Kyiv.

Vitrenko added that the possibility of raising funds from China Development Bank for the construction of a gas connecting pipeline is being considered, but the priority for these funds are projects increasing domestic gas extraction and reconstructing thermal power stations.

"The work goes on. The projects are presented at a fairly detailed level. These are very complicated technical projects, which are coordinated with various organizations in China and Ukraine. They [the Chinese bank] issue loans only for the projects that have passed all the stages of approvals, which have all the necessary infrastructure resources – this is the specifics," he said.

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