Ukraine offers to invest €790 million in the Trans-Caspian Gas Pipeline for a branch to a terminal at the Georgian Port of Kulevi to transport gas to Ukraine by sea, Kommersant reports.
Ukrainian Prime Minister Nikolai Azarov discussed the initiative with Azerbaijani President Ilham Aliyev. An official request for part in the project was sent to Turkmenistan and Azerbaijan.
The sum is 10% of total construction costs. Ukraine wants to build a gas terminal at the Yuzhny Port. A branch to Kulevi will increase gas supply from 10 to 20 billion cubic meters annually.
Naftogaz Ukrainy and other Ukrainian investors will provide the sum.
The Trans-Caspian Gas Pipeline is part of the Southern Gas Corridor to transport energy resources from the Caspian Sea to European markets. The project includes 300 km of pipeline from Turkmenistan to Azerbaijan under the sea. Turkmenistan will provide most of the fuel for the pipeline.
The Southern Gas Corridor is a priority project of the European Union to diversify the routes and sources of gas supply to improve gas security. The Southern Gas Corridor includes Nabucco, Trans-Adriatic Gas Pipeline (TAP) and ITGI.
