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02.09.2011 11:48
Shell to Invest USD 800 Mln in Ukraine Shale Gas
According to Ukrainian energy officials, the nation has significant deposits of shale gas in its eastern Donbass region
AUTHOR: publics.bg


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Royal Dutch Shell (RDSa.L) and Ukrainian state-run gas and oil company Naftogaz will sign a deal on shale gas exploration in Ukraine to reduce the former Soviet republic's dependence on Russian gas, a top presidential official said on Wednesday.
 
Serhiy Lyovochkin, President Viktor Yanukovich's chief of staff, said the deal should be signed on Thursday and that Shell promised to invest about USD 800 million in the project, Reuters reported.
 
According to Ukrainian energy officials, the nation has significant deposits of shale gas in its eastern Donbass region.
 
Russia's TNK-BP last year said it also expected to sign a memorandum on shale gas exploration in Ukraine.
 
Earlier this month Ukraine's Energy Minister Yuri Boiko said Kiev planned to cut gas consumption to about 54 billion cubic metres (bcm) in 2011 from 64 bcm in 2010.
 
He also said Ukraine was seeking to cut imports of Russian gas to 12 bcm in five years from about 40 bcm in 2010.

TAGS: Ukraine | Shell | shale gas | Donbass | gas consumption | natural gas imports | Russia 


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