Ukraine to build LNG terminal at Port Yuzhnyi

Ukraine plans to build a €846m liquefied natural gas (LNG) terminal at the port of Yuzhnyi in Odesa region.

Head of the State Agency for Investment and Management of National Projects of Ukraine Vladyslav Kaskiv told reporters in Kiev that another €121 million will be needed to build a supply canal to the terminal and €113 million to link it to the gas transportation system.

Nearly 70% of the cost will be met through borrowing, while 30% of the remaining cost will be covered by loan or bond issues from a consortium of investors, reports Bloomberg.

The terminal project is planned to be developed in two phases by 2016.

When completed, the terminal’s capacity will double to 10 billion cubic meters a year by 2018 and 5 billion cubic meters a year in 2016.