Government plans to invest $2.56 bln from Gazprom in gas industry development

Government plans to invest $2.56 bln from Gazprom in gas industry development

The funds worth $2.56 billion that Russian Gazprom will have to pay in favor of Naftogaz of Ukraine can be invested in the development of the Ukrainian gas industry.

First Vice Prime Minister - Minister of Economic Development and Trade Stepan Kubiv stated this during Government Question Hour meeting held in the Verkhovna Rada today, an Ukrinform correspondent reports.

"$2.5 billion is a big sum for Ukraine, especially when building a system of energy independence," said Kubiv.

According to Energy and Coal Industry Minister Ihor Nasalik, the funds will be invested in the development of gas production.

"Ukraine has the protected gas reserves in the amount of 1 trillion, but it extracts only 2%. Ukraine can produce at least 80 billion cubic meters of gas. If it takes place, the question of tariffs will not arise," added Nasalik.


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