A technical coordinating unit may be established at Naftogaz Ukraine
to be in charge of establishing a fully modernized business plan based
on the master plan for the modernisation of Ukraine's gas transport system.
The respective measure is foreseen in the draft of a
joint declaration, which could be signed in Brussels on Monday, after
an international investment conference on the modernization of the
Ukrainian gas transport system.
"The European Commission, the
government of Ukraine, and creditors will cooperate in seeking to
establish a technical coordinating unit within Naftogaz Ukraine which
would be in charge of the establishment of a fully modernized business
plan, based on the Master Plan for the Modernization of Ukraine's Gas
Transport System, and further technical proposals by Ukraine that would
set out the timetable and sequence of work to ensure reliability and
efficiency, as well as minimizing possible disruption of supplies to
and through Ukraine," reads the draft declaration made available to
Interfax-Ukraine.
The technical coordinating unit will oversee
the work on the modernization of the Ukrainian gas transport system and
contribute to elaborating arrangements for the funding of the
modernization plan from international and Ukrainian lenders, and
possible donors.
The European Commission and the International
Financial Institutions, in turn, are ready to consider technical
assistance to the technical coordinating unit.
The European
Commission will consider providing assistance to the government of
Ukraine for the practical implementation of gas sector reforms.
It
is noted that the international financial institutions and lenders will
start due-diligence work on the projects identified in Ukraine's gas
transport system master plan as soon as the technical coordinating unit
is in place.
Subject to the results of this due-diligence, the
European Commission may provide support through the Neighbourhood
Investment Facility or other appropriate funding sources if this is
necessary to help levering loans from international financial
institutions.
Other partners that intend to provide grants and
loans for the modernisation of Ukraine's gas transport system should be
encouraged to supply detailed information to the technical
co-ordinating unit on their readiness and the possible level of their
financial participation.
