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Ukraine, China sign $3.7 bil loan deal to move power plants from gas to coal
"winning!"
Ukraine's energy and coal industry ministry on Friday signed an agreement with China Development Bank securing a $3.656 billion credit line to help the country switch its power plants over to coal from gas, the ministry said.
...
In 2010, Ukraine's energy ministry and China Development Bank signed an MOU on coal cooperation, under which the bank agreed to consider investing $1.03 billion in the modernization of seven state-owned coal mines in Ukraine.
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Ukraine has been exploring ways of reducing its dependence on Russian gas, which it considers unjustifiably expensive.
Given the lack of progress in two-year-old talks with Russian gas producer and exporter Gazprom, Kiev recently approved a decision to cut Russian gas imports to 27 billion cu m in 2012 from about 40 Bcm in 2011.
http://www.platts.com/RSSFeedDetailedNews/RSSFeed/Coal/8515041
...
In 2010, Ukraine's energy ministry and China Development Bank signed an MOU on coal cooperation, under which the bank agreed to consider investing $1.03 billion in the modernization of seven state-owned coal mines in Ukraine.
...
Ukraine has been exploring ways of reducing its dependence on Russian gas, which it considers unjustifiably expensive.
Given the lack of progress in two-year-old talks with Russian gas producer and exporter Gazprom, Kiev recently approved a decision to cut Russian gas imports to 27 billion cu m in 2012 from about 40 Bcm in 2011.
http://www.platts.com/RSSFeedDetailedNews/RSSFeed/Coal/8515041
