Ukrainian company Ukrgazdobiv, which is part from the state-owned enterprise Neftogaz, started shale gas production, using the fracking method. The region of the drilling works was not disclosed, but according to the officials the first shale well was drilled in cooperation with leading European companies in the sector.
The country started shale gas production, aiming to reduce its dependency from the Russian natural gas deliveries and support its delaying economy. Ukraine has intention to stop its long-lasting decrease of natural gas production, planning to increase it by 35% to 27 billion cub m per year, which will be enough for the consumption of the country.
According to the data of US Energy Information Administration (EIA), Ukraine has 128 trillion cub m of shale gas, taking the fourth position in Europe. The statistics shows that the country produced 17.4 billion cub m natucal gas in 2015, which is the lowest level in last 10 years.
However, according to the experts the probles with shale gas production in Ukraine are related with Chevron and Royal Dutch Shell, which are planning to leave their activities in the country against the conflict with Russia.
more recommended stories
IEA Sees Rebalancing Oil Market
In a report released today, the.
Dow Crosses 22,000
Markets continue moving higher.
Coca-Cola’s Earnings Exceed Expectations
Challenged by shifting consumer tastes away.
China Now the Top Market for Initial Public Offerings
China has overtaken Hong Kong as.