EBRD provides €150m for Ukraine pipeline upgrade

16 December 2014 08:47
(QHA) -

The European Bank for Reconstruction and Development (EBRD) will provide Ukraine with 150 million euro for the "Urengoy-Uzhgorod-Pomary" gas pipeline modernization.

The document was signed by the Minister of Foreign Affairs of Ukraine, Pavlo Klimkin and EBRD Energy Director, Riccardo Puliti on Monday, December 15, the press service of "Ukrtransgaz" reports.

"This is not only the project to modernize the Ukrainian gas infrastructure, but an opportunity to contribute to a full transparency of Ukraine's energy sector as a whole", - said the director of the EBRD Energy, Riccardo Puliti.

He also stressed that Ukraine has a key transit system in Europe.

At the same time, the head of "Gazprom" Alexei Miller previously said that the role of Ukraine as a transit state would be reduced to zero.

Note: The European Bank for Reconstruction and Development is a multilateral development bank, using investment as a tool to help build market economies