Ukraine approves draft memo with U.S. company on LNG supplies

The relevant draft memo was approved at a government meeting on Wednesday. REUTERS

REUTERS

The Cabinet of Ministers of Ukraine has approved a draft memorandum of cooperation with the U.S. company Louisiana Natural Gas Exports on the supply of liquefied natural gas to Ukraine.

The relevant draft was approved at a government meeting on Wednesday. “The Energy Ministry has worked out a draft memorandum of cooperation between Louisiana Natural Gas Exports and the Cabinet of Ministers of Ukraine on assistance in supplying gas to Ukraine and improving gas infrastructure, which provides for exploring the possibility of diversifying natural gas supply routes by ensuring long-term supplies of liquefied natural gas and developing cross-border gas infrastructure in Ukraine and EU, “said Ukraine’s Acting Minister of Energy and Environmental Policy Olha Buslavets, reporting on the draft decision.

As UNIAN reported earlier, in March this year, the then Minister of Energy and Environmental Policy Oleksiy Orzhel said Ukraine intends to conclude a ten-year or twenty-year contract for the supply of large volumes of natural gas from the United States through Poland.

He said such a long-term contract for gas supplies from the United States would strengthen Ukraine’s position in negotiations with Russia.

At the same time, Orzhel did not disclose details about the volume of purchases, only noting they would be large.

As UNIAN reported earlier, Ukraine in 2019 boosted natural gas imports by 34.4%, or by 3.65 bcm, up to 14.25 bcm. The country in 2018 reduced natural gas imports by 24.6% from 2017, to 10.59 bcm. In late November 2015, Ukraine stopped purchasing natural gas from Russian Gazprom.

(C)UNIAN 2020

One comment

  • On Friday, May 22, the spot price of gas at Europe’s largest TTF hub in the Netherlands fell to 2,479 euros per MWh. That’s $0.78 per million British thermal units, or $27.3 per 1,000 cubic meters.
    Break-even point for Gazprom is 70 dollars.

    At 08:00-09:00 am Tuesday, the volume of the gas intake at Malnov station on the Polish-German border fell to zero.

    Spaziba, Herr Schroeder.

    Liked by 2 people

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