Ukraine is in talks with Korean Gas Corporation and CNPC of China over construction of a $1 billion liquefied natural gas terminal in the country, Energy and Coal Industry Minister Eduard Stavytskiy said Wednesday.

The government will decide by the end of January on which one will be picked to go ahead and build the terminal, he said.

"We are now in talks with KoGas and CNPC, and I think by the end of January we will make the final decision," Stavytskiy told reporters.