Baku, Kiev to sign deal to set up JV for LNG supplies
Azerbaijan and Ukraine are due to sign an agreement on the sidelines of the annual World Economic Forum in Davos on January 25-26 to establish a joint venture for supplies of Azerbaijani liquefied natural gas to a Ukrainian LNG terminal, says head of Ukraine’s State Agency for Investment and Management of National Projects Vladislav Kaskiv.
The agreement envisions transporting 2 billion cubic meters of Azerbaijani gas to Ukraine in 2014 and 5 billion cubic meters in 2015.
Ukraine and Azerbaijan signed an intergovernmental memorandum on the supplies of Azerbaijani liquefied gas and an agreement on cooperation in oil transit to Europe during Ukrainian President Viktor Yanukovich’s visit to Baku in January 2011.
Ukraine expects these agreements to help it reduce dependence on Russian energy supplies following several energy spats between the two neighbors in recent years, which led to a brief halt of Europe-bound gas supplies in 2006 and 2009.
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