EBRD ready to invest USD1bn in Ukraine’s Gas Transit System

The European Bank for Reconstruction and Development (EBRD) is ready to invest in the reconstruction of the Ukrainian gas transit system USD 1 billion, EBRD’s Director in Ukraine Andre Kuusvek said in an interview with the Day weekly digest.

According to Kuusvek, the EBRD will participate in the modernization of the gas transit system, and it can begin with the Pomary Urengoi-Uzhgorod, and then move on, because the project is medium-term. “Nevertheless, we must not forget that the cost of the project of comprehensive modernization of the GTS has increased from USD 1.5-2 billion to USD 3-4 billion, and maybe, up to USD 5 billion. This is a very significant amount. For its part, the Bank for five years may invest USD 1 billion to modernize the Ukrainian gas transit system,” Kuusvek said.

Source: Ukrinform