- Sputnik International
World
Get the latest news from around the world, live coverage, off-beat stories, features and analysis.

Ukraine, Azerbaijan sign memo on LNG supplies

© RIA Novosti . Sergei Guneev / Go to the mediabankLNG carrier
LNG carrier - Sputnik International
Subscribe
Kiev and Baku signed an intergovernmental memorandum on future deliveries of liquefied natural gas from Azerbaijan and an agreement on cooperation in oil transit to Europe, Ukraine's presidential press service said on Friday.

Kiev and Baku signed an intergovernmental memorandum on future deliveries of liquefied natural gas from Azerbaijan and an agreement on cooperation in oil transit to Europe, Ukraine's presidential press service said on Friday.

Ukraine expects these agreements to help it reduce dependence on Russian energy supplies following several energy spats between the two neighbors in recent years, which led to a brief halt of Europe-bound gas supplies in 2006 and 2009.

Azerbaijani and Ukrainian officials signed the agreement on the sidelines of the World Economic Forum in Davos on Friday in the presence of Presidents Ilkham Aliyev and Viktor Yanukovych.

Ukraine's plans to diversify its energy supplies and reduce their cost include building a terminal for LNG storage on the Black Sea coast by 2015. Preliminary estimates suggest that the project to build the terminal with an annual capacity of 10 billion cubic meters will cost $2.5 billion.

Ukraine considers Azerbaijan its priority supplier of liquefied natural gas, and is also in talks with Libya, Algeria, Qatar and Indonesia.

In the oil sector, the two countries are part of a five-nation Sarmatia consortium to bring Caspian crude from Azerbaijan to Poland and the Baltic Sea via Ukraine by reviving the Odessa-Brody pipeline. The consortium has already completed a feasibility study of the future oil transportation network through Azerbaijan, Georgia, Ukraine and Poland.

KIEV, January 28 (RIA Novosti) 

 

Newsfeed
0
To participate in the discussion
log in or register
loader
Chats
Заголовок открываемого материала