Ukrainian Prime Minister Mykola Azarov said that there's enough natural gas in Ukrainian shale plays to satisfy the former Soviet republic's needs without imports.
“We have enough deposits of shale gas to satisfy Ukraine’s demand for this kind of fuel,” Interfax quoted him as saying. “What we are doing now involves a lot of hard work, which should bring about practical results in some five-seven years.”
“The main goal of any government is always to make not only short-term decisions but also decisions that have long-term effects for the country,” Azarov said.
US giant Chevron is negotiating a production-sharing agreement for shale exploration of the Olesska field towards Ukraine’s western borders with the European Union.
Royal Dutch Shell signed a $10 billion deal with the government for exploration of the Yuzivska field in eastern Ukraine last month.
