Energy Headlines

The Government policy in the energy sector is aimed at developing domestic production of hydrocarbons, the Senior Vice Prime Minister of Ukraine Andriy Klyuev said in interview to «5^th» TV channel.

He said that Ukrainian gas prices to be brought in line with their costs, to make the oil and gas companies work at 8-12% of revenue.

Prices for the gas produced in Ukraine was not increased for several years, and as the result – «even the domestic production, according to the price for which it was sold to population was unprofitable». If that industry is constantly unprofitable, there can be no question of how to increase our own gas production, which means that energy security of the State will remain under a big question, the Senior Vice Prime Minister said.

Andriy Klyuyev stressed that once Naftogaz of Ukraine «will be launched on profitable production, there will not be any gas price increase for population».

He also said that the Government is now in order to start mining shale gas and methane from coal deposits in Ukraine. The Senior Vice Prime Minister recalled that today Ukraine produces 20 billion cubic meters of gas a year.

I think we will increase this volume of production of at least by one and a half time, Andriy Klyuev said.

«Then our stability will increase, actually by our own production we would be able to close the people’s need and the need of housing enterprises» - Andriy Klyuyev said.

Source: Government Portal