Torsten Wöllert, Team Leader on Energy in the Support Group for Ukraine met Oleg Prokhorenko, CEO of UkrGasVydobuvannya to discuss the recent developments, reform steps and obstacles.
European Union in Ukraine shared on Facebook:
'Wöllert said, 'I am impressed by information received on the fight against corruption in UGV. We are concerned about attempts to undermine this.' Wöllert also welcomed information shared by Prokhorenko on plans to increase domestic gas production in Ukraine in line with the indicative target set by Prime Minister Groysman to produce 28 billion m³ of gas by 2020.'
Ukraine was estimated to possess natural gas reserves of 1.1 trillion cubic meters in 2004 and was ranked 26th among countries with proved reserves of natural gas before Crimea was annexed by the Russian Federation. Its total gas reserves have been estimated at 5.4 trillion cubic meters.
By 2030 about half of Ukraine’s production will come from non-traditional gas deposits (including 6-11 bcm of shale gas a year); according to the Ukrainian Government's plans.
Since 16 June 2014 Russia has halted its natural gas supplies to Ukraine because Ukraine refused to pay a debt to Gazprom of $4.5 billion that had arisen after Russia denounced the 2010 Kharkiv Pact on 31 March 2014.
Since June 2014 Ukraine imports more natural gas from Poland and Hungary.