"Urengoy - Pomary - Uzhgorod" pipeline to be modernized

Funds for this that make about $ 200 million will be provided by the European Bank for Reconstruction and Development.

It is reported that the project will be implemented by the operator of the gas transportation system "Ukrtransgas", 100% of which is owned by "Naftogaz Ukraine". Thus, the total cost of the project is $ 600 million. So, $ 200 million will be provided by the European Bank for Reconstruction and Development, and $ 400 million - - by the international credit and financial institutions.

Pipeline "Urengoy - Pomary - Uzhgorod" is a key part of the Ukrainian gas transportation system of supply of natural gas from Russia to Europe and the reverse gas supplies to Ukraine from the European Union.

The European Investment Bank (EIB) is considering the provision of EUR 200 million to Ukraine to support top-priority investment in the restoration of Donbas.

The first stage of restoration includes settling of short-term needs of suffered districts which are under control of the Ukrainian government and the provision for the infrastructure catering needs of displaced persons in other regions.The project is being assessed.As reported, EIB plans to provide EUR 3 billion to finance investment projects in Ukraine in 2014-2016.