FT: Deal with Shell to help Ukraine in gas talks with Russia.

By bne IntelliNews January 28, 2013
The shale gas agreement that Ukraine signed with Royal Dutch Shell can help Ukraine in gas talks with Russia by reducing its dependence on imported Russian fuel and help attract foreign investment into the country if Ukraine's leadership makes significant efforts to combat corruption, Britain's Financial Times newspaper has reported. The Ukrainian government hopes that opening up its shale gas reserves to exploration will help ease its heavy dependence on increasingly expensive Russian gas. Ukrainian Energy and Coal Industry Minister Yuriy Boiko believes that Ukraine will be able to produce 10-15bn cubic meters of shale gas in five to seven years. At the same time, according to Financial Times, the agreement with Shell will help increase the volume of foreign investments in Ukraine only if the authorities decide to eradicate corruption. On Jan 24, in the presence of Ukrainian President Viktor Yanukovych and Prime Minister of the Netherlands Mark Rutte, the Ukrainian government and Royal Dutch Shell signed a shale gas deal on the development of the Yuzivske field as part of the World Economic Forum in Davos. The production sharing agreement was signed by Ukrainian Energy and Coal Industry Minister Eduard Stavytsky and CEO of Royal Dutch Shell Peter Voser.

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