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15.11.2013 12:34
Chevron and Royal Dutch Shell Sign Shale Gas Production Contracts with Ukraine
In order to loosen its dependence on Russian gas imports, Kiev is considering both conventional and unconventional domestic output options

Several large U.S. companies are expecting to sign contracts for shale gas production in Ukraine, Victora Nuland, Assistant Secretary of State for European and Eurasian Affairs at the U.S. Department of State, announced, as quoted by BTA. According to Nuland, U.S. business is striving to strengthen its presence in the country. She also confirmed Washington’s support for ex-Soviet states aspirations to sign associating agreements with the European Union.

Last week Kiev signed a production-sharing agreement with Chevron for exploration and production of shale gas in the country’s western Oleska field. The deal is estimated at USD 10 billion, the Financial Times wrote. Earlier this year Royal Dutch Shell signed a similar agreement for the Yuzivska field, in Eastern Ukraine.

In order to loosen its dependence on Russian gas imports, Kiev is considering both conventional and unconventional domestic output options. It is expected that by end-2013 Ukraine will sign a contract with a consortium led by U.S. company ExxonMobil for the exploitation of a Black Sea block, near the large Neptune gas field discovered in 2012 in Romanian waters by ExxonMobil and Austrian OMV.

French company EDF has also joined forces with Italy’s Eni for securing a production-sharing agreement for a gas field off the coast of Crimea peninsula.

If the two shale gas endeavors and Exxon’s Black Sea plans work out successfully, their production could amount to 20 bn cub. m annually in 10 years, Ukrainian energy minister Eduard Stavytsky said.

TAGS: Chevron | Royal Dutch Shell | Ukraine | shale gas | natural gas | exploration | Black Sea | OMV | EDF | Eni | ExxonMobil | Romania | Neptune block 

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