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13:41
CABINET APPROVES PLAN ON UPGRADE OF UKRAINE GAS TRANSIT SYSTEM FOR H2, 2009

Kyiv, August 6 (Interfax-Ukraine) – The Ukrainian cabinet has approved a plan for H2, 2009 to realize a declaration signed after the Joint EU-Ukraine International Investment Conference on the modernization of Ukraine 's gas transit system, first deputy fuel and energy minister, Oleh Buhayev, told the press on Wednesday.

He said that the government has instructed the Fuel and Energy Ministry and National JSC Naftogaz Ukrainy until December 31, 2009 to draw up and approve a feasibility study and the adjusted estimation of expenses to realize projects on the upgrade of the Ukrainian gas transit system.

In addition, Naftogaz is to create a working group on technical coordination of works on the gas transit system's upgrade.

The cabinet also instructed Naftogaz Ukrainy, Fuel and Energy Ministry, Economy Ministry, Finance Ministry and Justice Ministry by December 31 to draw up a draft law on the functioning of the gas market, taking into account directives of the European Union on common rules for domestic natural gas markets and submit it to the cabinet, and to draft a program on the reformation of the Ukraine's gas sector for 2010-2011.

In addition, the government also said to work up investment projects on the modernization of Ukraine's gas transit system.

Buhayev said that Fuel and Energy Minister Yuriy Prodan was selected the chairman of the interagency coordination group for the realization of the declaration signed after the Joint EU-Ukraine International Investment Conference on the modernization of Ukraine 's gas transit system for the period up to 2016.

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