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Ukraine and European Bank for Reconstruction and Development sign Loan Agreement on modernization of Ukraine's GTS
15.12.2014 | 15:20
Press service of Ministry of Foreign Affairs

On http://www.kmu.gov.ua/img/1x1.gif15 December 2014 in Brussels, Foreign Minister of Ukraine Pavlo Klimkin and EBRD Managing Director for Energy and Natural Resources Riccardo Puliti signed a Loan agreement between Ukraine and the European Bank for Reconstruction and Development (Ukraine: modernization of the Urengoy - Pomary - Uzhgorod main gas pipeline).

The ceremony took place in the presence of Vice-President of the European Commission on Energy Union of Maroš Šefčovič.

The project is aimed at increasing the efficiency and commercial attractiveness of the existing transport routes, reducing the negative impact on the natural environment, improving the reliability of natural gas supplies to the European consumers via Ukraine’s territory.

The mentioned deal is a part of the project on the upgrade of the Urengoy - Pomary - Uzhgorod main gas pipeline, with the first tranche of funding (€150 million) granted by the European Investment Bank.

 

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