Ukraine Goes LNG

The Ukrainian state-run oil and gas company, Naftogaz Ukrainy, has announced its intention to build a natural gas liquefaction plant in one of the country's Black Sea ports.

According to reports, the plant will be used for the production of liquefied natural gas (LNG). The project is estimated at $1.2-1.5 billion and will have a capacity of 6 billion cubic meters a year. The site for construction of the plant has not yet been chosen.

According to sources, bids are already being accepted for the construction.