Archive for June 15th, 2012

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Ukraine – State to keep a stake in new LNG terminal

June 15, 2012

As you will know, back in 2010 I mentioned the real possibility of a LNG terminal being built on the Black Sea.  I then put my money on a place called Yushni in Odessa.

I revisited the issue in April 2012 as matter progressed somewhat with the upstream planning, my money still firmly on Yushni being the chosen site.

Unlike most projects run by the State Agency for Investment and National Projects where they are entirely privatised, the government has decided that it will keep a 25% +1 (Golden Share) in the LNG terminal.

Obviously energy security and diversification is not only a political issue but of of national security, thus it is understandable that any sitting government has not only a stake in this project but also a blocking “golden share” should the other 75% share holders become “difficult” or worse, act in a manner against the Ukrainian interest in the future.

The question is, who are the other share holders.  I am reliably informed that not all are Ukrainian or even Slavic.  Some yet, are still to finalise their involvement, whilst others are most definitely “in”.

When I know more and discover the identities (from reliable sources), I will be sure to let you all know who has their fingers in a very strategic and very necessary Ukrainian pie.  It seems the boardroom will not be composed entirely of the usual Slavic oligarchy suspects!

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