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Ukraine projects to reduce gas costs with LNG Terminal

Gas that Ukraine will import via its LNG terminal will cost 20% less than the price it’s paying to Russia.

“We are projecting a 20% reduction in gas costs in comparison to the terms of our present contract with Russia,” said Head of the Ukranian State Agency for Investment and National Projects Vladyslav Kaskiv.

“The terminal will be run at full capacity, and Ukraine is currently negotiating with a number of countries to get better prices for gas, and we are expecting opponents to launch a discriminating campaign,” added Kaskiv.

He continued saying that Ukraine is ready for such a campaign, and that this project reshuffles the structure of the energy map of the region.

“Ukraine is on its way to become energy independent. It’s a fact that completely changes the dynamic of forces and interests in the region,” said Kaskiv.

The contraction of the LNG Terminal will take place in two stages. The first one is scheduled to begin in 2016, and will feature a ship terminal with a capacity of 5 billion cubic meter of gas per year; the second stage of the construction, scheduled for 2018, will include an onshore terminal with a capacity of 10 billion cubic meters of gas per year.

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