Emelianenko-Mitrione bout postponed due to American’s illnessSport February 19, 4:06
OSCE unable to identify perpetrators of cyber attacks against it - secretary generalWorld February 19, 4:02
Russian biathletes win gold in relay at 2017 IBU World Championships in AustriaSport February 18, 18:30
Putin signs decree on recognition of documents given to Donbass peopleRussian Politics & Diplomacy February 18, 17:26
Sberbank CEO says no repeat of crisis in the short termBusiness & Economy February 18, 17:24
Judging by certain statements at Munich Conference, "cold war" is still not over — LavrovRussian Politics & Diplomacy February 18, 15:19
Bout’s lawyers will challenge Court of Appeals’ decision in Supreme Court on February 21Russian Politics & Diplomacy February 18, 7:16
Turkish Minister reproaches NATO for not fulfilling obligations on its south-eastern flankWorld February 18, 7:12
Moody's upgrades outlook on Russia’s sovereign rating to stable from negativeBusiness & Economy February 18, 2:37
LONDON, October 21 (Itar-Tass) - Ukrainian government has drafted two agreements with Western corporations on the production of crude oil and natural gas on its national territory, The Financial Times said Monday.
“Ukraine’s government is weeks away from signing a shale gas production-sharing agreement with Chevron, of the US, and bringing in Italy’s Eni and France’s EDF as partners for a Black Sea “hydrocarbon exploration project,” the FT said.
The article referred to officials as saying the two new energy deals stood to attract billions of dollars of investment, building upon a subsoil production sharing agreement signed in January with Royal Dutch Shell, which pledged to invest up to $10bn to explore Ukraine’s unconventional gas potential, including shale deposits.
“Officials also hope to complete negotiations by the end of this year with an ExxonMobil-led consortium, which includes Shell, to explore for hydrocarbons off Ukraine’s western Black Sea coast,” the article said.
“We have attracted investors which will within five to seven years maximum double Ukraine’s domestic gas production,” Viktor Yanukovich, Ukraine’s president, said last Thursday.
According to Ukrainian Prime Minister Nikolai Azarov, the $4 billion project could increase Ukraine’s annual oil and gas equivalent levels by 2 million to 3 million tons in coming years.
The FT recalls that Ukraine consumes about 50 billion cubic meters (bcm) of gas annually, but produces just over 20 bcm. As a result, it pays over $10 billion each year to Russia’s major producer and exporter of natural gas, OAO Gazprom for importing the difference from Russia at prices, which local officials claim to be “discriminatively higher than in EU markets”.