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Ukraine plans to boost gas production

Posted by the Editor on February 6, 2014

News / 6 February 2014 | 11:55

Ukraine plans to boost gas production

Ukraine plans to boost gas production

The Energy Strategy of Ukraine until 2030 envisions to increase natural gas production up to 45 billion m3 and to reduce its imports down to 5 billion m3. A phased out departure from dependence on imported energy stabilizes the Ukrainian industry and adds percentage points to GDP growth, the Information-Analytical Bulletin of the Cabinet of Ministers of Ukraine informs.
Experts note that Energy Strategy envisions growth of gas production up to 40-45 billion m3 annually, and aims to ensure 90% of own gas consumption subject to revising licensing procedures, production sharing agreements (PSA), taxation, and active work to attract investors.
In 2014, the plan is to increase the gas production by 8-9%, up to 22 billion m3, from 2013. This was announced by Eduard Stavitsky, Acting Minister of Energy and Coal Industry of Ukraine, in the interview to “Government Courier.” According to him, this is evidenced by extraction industry production plans.
He also said that, in 2014, coal mines controlled by Ministry of Energy and Coal Industry are planning to produce 25.68 million tons of raw coal, which is up 6.3% YOY. The government found the opportunity to realize the potential of coal deposits in Ukraine. The  Energy Strategy envisions that by increasing cost-effective production of steam coal up to 75 million tons per year) as well as coking coal up to 40 million tons per year, and by maximizing privatization and improvement of performance at coal mines, as well as subsequent closure of non-privatized unprofitable mines, the plan is to meet the domestic demand for coal until 2030.



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