Ukraines shale gas production up 11% y/y in 2012.

By bne IntelliNews January 9, 2013
In 2012, the production of shale gas in Ukraine rose by 11% y/y to 1.2bn m3 of shale gas. Following such dynamics will result in Ukraines timely fulfilling the plan to triple its domestic shale gas production to three bn cubic meters by 2016, reports the press services of the joint stock company Chornomornaftogaz. Currently, Ukraine is purchasing most of its imported gas from Russia 26bn m3 in 2012, and the projected 20bn in 2013. In November 2012, Ukraine began importing gas from Germany, as an effort to get rid of energy dependency on Russia. Ukraine pays for Russian gas USD 432 per thousand cubic meters. Reportedly, the price for German gas is USD 40 to 70 less. Chornomornaftogaz, which belongs to state gas and oil monopoly Naftogaz Ukrainy, has been actively exploring the Black Sea shelf starting in 2011. In the last two years Chornomornaftogaz was able to stop and reverse the shale gas production decline. Chornomornaftogaz operates 10 gas and oil fields: four in the Black Sea (condensate gas fields Shtormove and Golitsynske, gas fields Arkhangelske and Odeske), three on the shelf of the Sea of Azov (gas fields Skhidno-Kazantipske, Striletske and Pivnichno-Bulhanatske) and three in dry-land Crimea (gas fields Zadornenske and Dzhankoiske, oil field Semenivske).
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