Ukraine Set to Invest in Trans Caspian Pipeline

Ukraine reportedly plans to invest 790 million euros in the Trans Caspian Pipeline project.

Ukraine has ent an official proposal to Azerbaijan and Turkmenistan on its participation in the project, which would see a pipeline from the Turkmen coast of the Caspian Sea to Azerbaijani coast, where it will be linked to the Southern Gas Corridor.

Earlier this week, Ukrainian PM Mykola Azarov and Azeri President Ilham Aliyev met at in Azeri capital Baku to discuss energy relations. During this meeting, Prime Minister Azarov said that Ukraine was keen to join the Trans-Caspian pipeline project.

A high ranking source in oil, gas and oil-processing department of Ukraine's Energy Ministry told Kommersant Ukraine that the country is ready to invest up to 10 percent of the project's total cost, if the pipeline will be linked to Kulevi LNG terminal in Georgia.

"Ukraine will receive gas in terminal, which is planned to be built in the Port "Southern", the source said.

He said this requires the construction of some branch from the Trans Caspian pipeline, which will enable to increase transshipment volume through the Kulevi terminal from current 10 to 20 billion cubic meters per year.