Massive LNG alliance in the pipeline

Qatar and Ukraine strengthen bilateral relations

Qatari companies to build potential LNG terminal on the Black Sea
Qatari companies to build potential LNG terminal on the Black Sea

In a recent visit to Qatar, Ukrainian Prime Minister Mykola Azarov held talks with HE the Prime Minister and Foreign Minister Sheikh Hamad bin Jassim bin Jabor al-Thani on ways of enhancing bilateral relations with a particular focus towards the hydrocarbon sector, according to Qatar New Agency.

Some of the ventures discussed include the participation of Qatari companies to construct an €860 million LNG terminal on the Black Sea, with the Ukrainian government retaining a 25% stake.

Azarov’s press secretary told reporters that: "We proposed the Qatari side mull participation in the LNG terminal project, as well as gas supplies to Ukraine and participation in gas exploration and production in Ukraine," according to the Kyiv Post.

The move to attract stronger relations will undoubtedly ease pressure on the Ukraine’s often publically disputed issues with buying gas from neighboring Russia.

According to an announcement made by the Minister of Energy and Coal in late December last year: “The purchase of Russian gas will decrease by half from 01st January (2012). We have warned the Russian partners that our economy cannot afford such a price of gas, and we will be switching to the use of our own energy resources.”

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