Ukraine has warned Irish oil company
Monday, July 2, 2018

Ukraine has warned Irish oil company

Ukraine has warned Irish oil company Petrel Resources not to build a liquefied natural gas facility in Crimea, reports The Irish Times. In April, David Horgan, a Petrel director, suggested at the Yalta International Economic Forum that international sanctions against Crimea could be avoided if the plant were built in the Kerch Strait, presumably on the mainland Russia side. Under current sanctions law, EU companies and citizens are banned from investing in energy projects on the peninsula. In September, 2014, after Crimea’s annexation, executives of Gazprom, Petrel’s joint venture partner, spoke at a conference, “Integration of Crimea into infrastructure of Russia’s oil product market.” There, Gazprom identified the Kerch strait as a leading location for an LNG plant.

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