Ukraine Opens Doors to Eni and EDF for Black Sea Shelf

Ukraine sees in Italy’s Eni and France’s EDF two potential partners in the Black Sea shelf, being ready to provide favourable conditions to the two companies.

“Today we will consider a draft instruction giving the green light to the production of oil and gas on the Black Sea shelf involving the leading international energy companies Eni, Italy, and Electricite de France, France,” Ukraine’s Prime Minister Mykola Azarov said in Kiev.

Ukraine's government is keen to produce locally to ease dependence on Russia. Ukraine also continues to make ambitious plans to decrease national energy consumption, switch its power stations from natural gas to coal, build an LNG terminal, and open reverse flows of gas from Europe. 

Earlier this month, Eni said it expects to proceed with shale gas exploration in Ukraine next summer, eyeing opportunities stemming from one the largest reserves in the world.