Each Bank is planning to invest $154m for the first phase of the upgrade, which include reconstruction of the Urengoi-Pomary-Uzhgorod main gas pipeline.
NAK NaftoGaz will provide the remaining finance for first phase, which is estimated to be the $500m.
Ukraine is planning to completely overhaul its gas transportation infrastructure within seven years, including more than 37,000km of pipelines, which carry 140 billion cubic meters of the gas supplied annually to Europe.
