Saturday, December 12, 2015

Ukraine aims for achieving self-sufficiency in energy by 2025

Ukrainian Prime Minister Arseny Yatsenyuk said Friday that his country is determined to achieve energy independence by 2025.

"Our goal is to get rid of all imported natural gas, increase our own production and become a completely energy independent country over the next ten years," Yatsenyuk said, while addressing the country's parliament.

In order to achieve its energy self-sufficiency, Ukraine will implement a comprehensive reform of the fuels sector, envisaging reduced gas consumption of industry and households, de-monopolization of the gas market and introduction of more differential and transparent energy tariffs, Yatsenyuk said.

Among other steps to boost Ukraine's energy independence, he listed opening gas market to investors and gradually cutting rental payments on natural gas production, which will increase domestic gas output.

  • Ukraine, which has estimated shale gas reserves of 1.2 trillion cubic meters and is ranked the third in Europe by the reserves, currently has to import more than half of gas from abroad to meet its domestic demand.

The country's gas consumption fell by 19 percent to 42.6 billion cubic meters last year, of which, 20.5 billion cubic meters were covered by domestically produced gas.

 Xinhua -

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