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Ukraine to raise financing for modernizing gas pipelines

      RBC, 23.01.2007, Kiev 09:28:13.The Ukrainian Fuel and Energy Ministry plans to increase natural gas transit to Europe to 122bn cubic meters in 2007, the republic's Energy Minister Yury Boyko told a briefing on Monday. According to him, the ministry will try to use Ukraine's gas transportation system to its maximum capacity. Boyko stressed that in 2007 alone Ukraine would raise $250m in loans from the European Bank for Reconstruction and Development (EBRD) for the development of the country's gas transportation system. Ukraine has also launched its own investment program and did a roadshow for it in the US, the minister added.

      Boyko also pointed out that Ukraine should become a reliable transit partner for both Russia and Europe.

      Ukraine transported 113.8bn cubic meters of natural gas headed to Europe via its territory in 2006.

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