KIEV, Oct. 8 - Ukraine will break ground on November 15 on a $1 billion liquefied natural gas terminal on the Black Sea, the head of a state agency overseeing the project said Monday.

Vladyslav Kaskiv, the head of the State Investment and National Projects Management Agency, said a pool of undisclosed investors is currently creating a consortium that will finance the project.

“This is an irreversible process now,” Kaskiv said in an interview with Radio Liberty. “Tentatively, we are scheduled on November 15 to begin the physical stage of the construction.”