Chevron Eyes Shale Gas in Ukraine

The Ukrainian Prime Minister Mykola Azarov has met with representatives of Chevron Corp.

Informing members of the government, the Prime Minister stated, "yesterday I met the leaders of one of the largest corporations in the world - Chevron. They want to invest in production of shale gas in Ukraine. These are difficult deposits for exploration and large investment is needed here.

At the same time, Chevron is ready to implement them under two conditions: political stability and permanence of the rules of taxation," the prime minister emphasized.

He added that the interest of all potential investors is subject to changes in legislation to make investment more favorable.

In addition, Minister of Energy and Coal Industry of Ukraine Yuriy Boiko announced plans to create a joint venture with Shell and ExxonMobil for the extraction of shale gas and coalbed methane in Ukraine.

According to the national joint-stock company Nadra of Ukraine, Ukraine has the largest shale gas reserves in Europe.

Source: Ukrainian Radio