The Ukrainian Fuel and Energy Ministry drafted a strategy to modernize and re-equip the country's gas transportation system in 2009-2015, which foresees the financing of USD 2.571 billion, according to UKRINFORM.

The document foresees the reconstruction of compressor stations, main gas pipelines, as well as the reconstruction and re-equipment of gas metering and gas distribution stations and underground gas storage facilities.

Moreover, the strategy foresees the use of the system of differentiated tariffs for electricity.

The measures aimed at implementing the strategy are to be financed at the expense of the funds of Ukraine's state gas firm Naftogaz, as well as other sources of financing (the attraction of state budget funds is not foreseen).

Ukraine hopes to attract in October or November USD 1.5-2 billion as investment from the European Commission and international financial institutions to modernize its gas transit system.


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