Shell, Ukraine may cooperate on conventional, shale gas deposits

7/12/2013

Shell, Ukraine may cooperate on conventional, shale gas deposits

BY ALEXANDER KOLYANDR

MOSCOW -- Shell is interested in developing both conventional and shale gas deposits in Ukraine, the company's executive said at a meeting with the country's prime minister, the government said.

Shell and Ukraine could cooperate in developing both conventional and shale gas reserves, Shell's upstream international director, Andrew Brown, is cited as saying by the government's website.

Ukrainian Prime Minister Mykola Azarov invited Shell to develop "not only shale gas, but also gas from conventional reserves."

Ukraine, which holds Europe's third largest shale gas reserves, sees the development of its energy resources as vital for reducing its dependence on Russian gas imports. The former Soviet republic in January signed a production sharing agreement with Shell for the Yuzovka shale gas area, which is expected to eventually provide Ukraine with 20 Bcm of gas a year. But so far, Shell hasn't been involved in the exploration or development of traditional gas deposits in Ukraine.

Dow Jones Newswires

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