Ukraine needs to accelerate gas exploration to increase domestic gas production – PM

Ukraine needs to accelerate the exploration of gas fields in order to increase its own gas production.

Prime Minister of Ukraine Denys Shmyhal said this during his speech at the presentation of strategic directions for the development of gas production, which took place in Kyiv on September 8, according to the Government portal.

“We need to conduct appropriate exploration, complete the already partially implemented exploration plans and promptly start production [at new gas fields]. For its part, the Government is making every effort for this work. We also count on the relevant legislative initiatives of the lawmakers. I am sure that together we will be able to carry out the necessary work and quickly strengthen the energy independence of Ukraine," Shmyhal stressed.

He added that the production of its own gas is a step towards the energy independence of Ukraine, which should be strengthened.

"We have record gas volumes in our storages; we have made a breakthrough step by setting market gas prices for the population. Now suppliers are competing for household consumers. You can already fix the price of gas and pay it in equal installments throughout the year. At the same time, we have the lowest gas price over the past five years," the PM said.

As Ukrinform reported, NJSC Naftogaz of Ukraine set the price of natural gas for household consumers at UAH 4.73 per cubic meter (VAT included, transportation costs excluded) in September 2020. Compared to August, the price of gas increased by UAH 1,460 (45%).

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