KIEV, Sept. 30 - Modernizing Ukraine's gas transport system will cost $3.2 billion, according to consulting firm Mott MacDonald.

The figure - from an interim report on the system modernization project - was given by head of the consulting outfit's oil and gas division in Britain Azfar Shaukat during the international Ukraine-EU: On the Way towards Common Energy Market conference in Kiev.

Around $2.8 billion will be needed for overhauling the country's gas pipelines and another $400 million for modernizing underground storage facilities.