Le Bourget air show: Russia clinches contracts for military hardware deliveriesMilitary & Defense June 22, 19:28
Czech president supports idea of referendum on country’s withdrawal from EUWorld June 22, 18:57
Russian fans show fascinating hospitality at 2017 Confederations Cup — renowned pianistSport June 22, 18:32
First days of Soviet Union's Great Patriotic War in picturesSociety & Culture June 22, 18:10
Defense Ministry comments on upcoming Russia-China military exercisesMilitary & Defense June 22, 18:08
Death toll in Afghan terror attack climbs to 34World June 22, 18:04
Russian MP castigates Poland’s decision to demolish Red Army monuments as ‘blasphemous’Russian Politics & Diplomacy June 22, 17:46
Ex-Ukrainian president lambastes Europe for ‘brining Ukraine to its knees’World June 22, 17:12
Senator calls for tough response to Poland’s decision to demolish Red Army monumentsRussian Politics & Diplomacy June 22, 17:03
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”.