Putting into production of the LNG terminal will provide Ukraine with gas, two times cheaper than the Russian, Prime Minister Mykola Azarov said at the Cabinet’s meeting, ForUm correspondent reports.

"Diversification of energy imports is the most effective way to reduce dependence of the Ukrainian economy on expensive Russian gas and ensure national energy security. Currently, there are basic conditions for Ukraine’s sustainable economic development. Liquefied gas will be two times cheaper for us than the Russian," he said.

In addition, he said, it will be possible to reduce production costs of metallurgy and chemical industry due to the LNG terminal. "This means ensuring competitiveness of traditional Ukrainian exports under difficult conditions of the global economic crisis," Azarov said.

"With the full capacity of the terminal, Ukraine will receive more than 10 billion cubic meters of gas a year. This is almost half of the volumes of gas, which we buy today in Russia. This is a strategic base for the final solution of the gas issue for Ukraine,"the PM said.

Azarov also added that the development of such a project as the LNG terminal under the world crisis demonstrates the potential of our country to international investors. "Both international investors and domestic companies may participate in the project," Azarov summed up.



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