KIEV, Nov. 12 – The European Investment Bank in the second half of October approved the provision of a EUR 150 million financing to reconstruct the Urengoi-Pomary-Uzhgorod gas pipeline used to supply Russian gas to Europe by the Ukrainian gas transport system operator Ukrtransgaz.

According to a report of the bank, it is planned to replace several sections of the gas pipeline of 119 kilometers long and two compressor stations.

EIB said that the total cost of the project is EUR 355 million.