What should have been a landmark natural gas deal for Ukraine has devolved into a bizarre and embarrassing debacle, as it became apparent this week that the $1.1 billion agreement the government signed Monday was not legitimate.

Ukraine’s Prime Minister Mykola Azarov and Energy Minister Yurly Boyko presided over a live televised signing ceremony for the supposed deal with Spain’s Gas Natural Fenosa, which would have secured $1.1 billion in investment for the construction of Ukraine’s first liquid natural gas (LNG) terminal on the Black Sea and a pipeline connecting the country’s vast gas network to the terminal.

More to the point, the deal would enable Ukraine to import by tanker up to 10 billion cubic meters of European gas