Gazprombank Considering Investment in Ukrainian LNG

Ihor Zhovkva, a director in the Ukrainian State Agency for Investment and National Projects, has said that Gazprombank has expressed an interest in investing in a Ukrainian LNG terminal project.

The director made the statement following a presentation of Ukraine's investment opportunities in Moscow on Tuesday, a statement on the Ukrainian Cabinet of Ministers website says. Among those projects presented to Gazprombank was plans for the construction of an LNG terminal, the statement said.

The terminal, for which a feasibility study has already been approved, would be constructed near Odessa in the Black Sea and would take liquefied natural gas supply from Azerbaijan as well as other countries.

"During personal meetings, the Gazprombank representative showed particular interest in the LNG-terminal project and Ring Road (another investment project discussed)," Mr. Zhovkva said. "The possibility to finance them is to be discussed with the bank representatives in the nearest future.

"Ukraine is one of the largest importers of natural gas and cannot ignore this market, which is rapidly developing," he continued. "Therefore we presented the LNG-terminal project in Moscow today."

Ukraine has already begun making inquiries into suppliers of LNG for the Odessa terminal. Besides Azerbaijan, the country has also approached Qatar and the United States to discuss the possibility  of LNG imports.