Naftogaz and U.S. Frontera Resources has agreed to import LNG from Georgia

"Naftogaz of Ukraine" and U.S. Frontera Resources Corporation signed a statement of understanding envisaging cooperation in the sphere of importing liquefied natural gas from the capacity of American organizations in Georgia.
"According to the Memorandum the parties agreed to cooperate in the field of investment in exploration and development of oil and gas of Ukraine, and similarly in the project import liquefied natural gas from the capacity of American organizations in Georgia. Confirmed the accumulation of natural gas organization in Georgia is about 300 billion cubic meters ", - is informed in the report, RIA " Novosti ".
The Memorandum was signed on the first day of the week July 13, takes effect from the date of its signing and is valid for 2 years. Frontera Resources Corporation is an International Company involved in the exploration and production of gas and oil, was founded in 1996. The strategy of the organization is to find prospects for the extraction of hydrocarbons on the trading markets of Eastern Europe, which belong to the black sea basin. June 30 "Naftogaz of Ukraine" said that from 1 July 2015 shall suspend the purchase of gas from Gazprom to agree on the terms of delivery. Explaining the actions of Kiev, Russian energy Minister Alexander Novak said that the conclusion on suspension of gas purchases from Russia ? and political grounds for this. International monetary Fund (IMF) and Ukraine reached agreement on the level of experts on the allocation of Kiev loan in 1, 7 billion. However, the IMF first said no longer willing to allocate money to pay for fuel. To the President of Ukraine Petro Poroshenko was presented with a draft law on ratification of the Memorandum, According to which the EU will give Kiev more 1, 8 billion euros in credit. Along with this, the Prime Minister Arseniy Yatsenyuk said that Ukraine is not able to afford to pay for servicing the debt, accumulated over three years.


sections: Politics