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Ukraine Wants LNG Plant

Ukraine is pursuing a plan to build a $1.5 billion liquefied natural gas terminal on the Black Sea after Russia refused to cut prices for shipments of the fuel.

"This is a matter of national security to us now as Russia has refused, without grounds, to lower the price of its gas," Vladyslav Kaskiv, head of Ukraine's State Agency for Investment and National Projects, said late last week in an interview in New York.

Talks between the Ukrainian and Russian prime ministers last week ended without agreement on a requested reduction in the price of gas shipped from Russia. Ukraine, the largest consumer of Russian gas, pays $297 per 1,000 cubic meters and said May 24 that it wants to cut the price to $240.

(Bloomberg)

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