May 8, 2012
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№ 1 (January 2012)

Ukraine Inviting Investors To Produce Shale Gas

Ukraine plans to hold a tender to choose investors to conduct geological surveys and produce shale gas in the country, Ukroil has reported. The tender is scheduled for February 2012. According to Ukrainian Natural Resources Ministry's press=office, Natural Resources Minister Nikolay Zlochevskiy relayed this news to an American delegation headed by State Department Special  Envoy to Eurasia Richard Morningstar.


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"We are interested in holding transparent tenders and for powerful investors to begin shale gas production in Ukraine. This will be a serious victory for our government team", the minister said.

Morningstar responded, saying that the Americans were interested in producing on the Oleskoye and Yuzovskoye sections of Ukraine where the shale gas production is planned. "The United States is interested in Ukraine having energy independence", he said.

The sides agreed to organize consultations with the US Geological Service and the Ukrainian State Geology and Mineral Deposits Service to exchange information on prospective geological formations.
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