` Crimea Requires $3-5 Billion US-Dollars to Achieve Energy Self-Sufficiency according to RFM Yuri Prodan ‘

#AceFinanceNews – KIEV- April 03 – Crimea will need 3-5 years and almost 5 billion U.S. dollars to achieve energy self-sufficiency, parliament-appointed Energy and Coal Industry Minister Yuri Prodan said.

“This is a very complex issue. Crimea is dependent in terms of energy, of course. The autonomy depends on the Ukrainian energy system by 90 percent, and if the ties are broken, the peninsula will face serious energy problems,” he told the Government Courier on Thursday, April 3.

He noted that the question of energy self-sufficiency “will be settled after the adoption of the law on temporarily occupied territories”.

The construction of new power generation capacities for Crimea will cost about 90-100 billion roubles, Russian Energy Minister Alexander Novak said earlier this week.

“On the average, we think that it will cost 1,500-2,000 U.S. dollars to build one kW of generation capacities. So 1,320 MW may cost 90-100 billion roubles at the current exchange rate,” the minister said.

He said natural gas for power generation in Crimea might come from the South Stream gas pipeline to pass by along the Black Sea bottom.

“These will most likely be power plants working on the gas which is extracted here in Crimea and the gas which can be taken from South Stream,” he said.

Crimea’s gas producing company Chernomorneftegaz plans to extract over two billion cubic metres of gas in 2014, which is 15 percent more than the peninsula needs, the CrimeaInform news agency said.

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