18:33 19.06.2020

Naftogaz head skeptical about signing long-term contracts to import LNG

2 min read
Naftogaz head skeptical about signing long-term contracts to import LNG

 

Naftogaz Ukrainy Executive Board Chairman Andriy Kobolev is cautious about an idea of signing long-term contracts to supply liquefied natural gas to Ukraine by Louisiana Natural Gas Exports.

In his opinion, in particular, the potential import of LNG in previously announced volumes of 5.5 billion cubic meters by the U.S. company is possible only in case of further re-export of LNG to European countries.

"I have a certain skepticism regarding the viability of this business model and its feasibility. The import of such volumes of gas can be viable only if there is subsequent re-export to the countries of the European Union, since I think that we won't see such a volume of consumption of imported gas [domestically] any time soon. There are many other questions there," he said during a hard talk titled "Naftogaz. What's Next?" broadcasted on YouTube on Thursday.

"I do not understand this model yet, but I am careful about it, because not everything that I do not understand has no right to go live," he added.

As reported, the Cabinet of Ministers of Ukraine at the end of May 2020 approved a memorandum with Louisiana Natural Gas Exports on possible LNG supplies from the United States to Ukraine and the development of gas infrastructure with Poland.

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