-Banner-

TALKS ON RESTRUCTURING DEBT OF UKRAINIAN DEBT FOR TURKMEN GAS SUPPLY TO BE HELD IN ASHKHABAD

print version send link by email
11:43 02.09.2001
text: Caspian news agency
views: [182]

Governmental delegation of Ukraine headed by the first Vice Prime Minister Oleg Dubina will arrive in Turkmenistan on Thursday for negotiating on restructuring the state debt of Ukraine for supply of Turkmen natural gas.

Taking into consideration the fact that Turkmenistan is not a member of the Paris Club, terms of restructuring of the foreign debt of Ukraine are not acceptable for Ashkhabad. In fact, debt for gas delivery from 1993-1994 has been already restructured.

Protocol with the Paris Club on changing terms of covering a USD 580 million foreign debt of Ukraine were accorded on July 12. Based on this document, Ukraine suggested Turkmenistan to discuss opportunities for accepting terms of the agreement - covering debt within 12 years, starting from 2002, with privileged three-year period.

However, Turkmenistan insists on repaying the debt at USD 281.7 million for 3.5 years, starting from 2001.

The sides also discussed possible expansion of cooperation, in investment sphere in particular. Thus, from 2002 the Ukrainian companies will start implementation in Turkmenistan of 20 investment projects for USD 420 million. Laying bridge via Amudaria (USD 123 million), construction of three gas-compressing stations (USD 280 million), as well as construction of drain-communication systems in Ashkhabad is the most important projects. Implementation of part of these projects is under the process.