Ukraine sets eye on U.S. gas

13:46, 22 March 2012
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Spanish Socoin Company...

The Spanish Socoin Company belonging to Gas Natural Fenosa Group was contracted to draw up a feasibility study for construction of liquefied natural gas terminal in Ukraine, KW wrote in an article.

Last month, Spanish experts were supposed to analyze variants, suggested by the Ukrainian side, for location of such terminal that referred to two sites not far from Port Pivdenniy near Odesa Port Works and Pivdenniy oil terminal, in the Berezan Estuary not far from Ochakiv and an outside sea terminal not far from Pivdenniy.

Even taking into account that at present neither investors nor LNG suppliers have been determined. Liquefied gas will be cheaper than the ordinary gas from Russia.

Of three possible supplying countries – the US, Algeria and Qatar. Strange as it may seem, the US gives the best price even despite being the most distant country. Within the next few years the US will turn from a gas importer into a major gas exporter. US exporters have already signed contracts for LNG supplies with Japanese Sumitomo, British EDF Trading, Spanish Fenosa and Chinese ENN Energy.

Potential American investors are ready to wholly finance construction of a terminal on the condition that any other gas supplies are eliminated from the project.

One undecided issue is the passage of gas tankers through the Bosporus, but if Ukraine buys gas from American companies the problem with the passage of straits will be resolved soon.

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