Wednesday, November 09, 2016

Ukraine has vast potential gas reserves: deputy PM

Ukraine's potential natural gas reserves are estimated at 5.6 trillion cubic meters, with an extractable amount of 924 billion cubic meters, the country's Deputy Prime Minister Volodymyr Kistion announced on Tuesday.

"We have a great potential to provide our economy with enough gas. Every year, we extract only 2 percent of our reserves," Kistion said while speaking in the parliament.

Currently, the government is drawing a roadmap for gas production development, which is aimed at boosting the fuel output to a reasonable level, Kistion said.

According to him, within the next five years, Ukraine targets to increase it gas extraction by more than third to about 27 billion cubic meters.

Last year, Ukraine consumed 33.7 billion cubic meters of gas, of which 17.7 billion cubic meters were extracted inside the country.

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