Ukraine Energy Minister: Energy Independence is Our Top Priority

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• Publié par: worldwide-news-ukraine
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• Langue: English

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Ukraine Energy Minister: Energy Independence

is Our Top Priority

PR Newswire

WASHINGTON, June 5, 2012

WASHINGTON

,

June 5, 2012

/PRNewswire/ --

Achieving energy independence has become top priority for President

of Ukraine Viktor Yanukovych. Such statement was made during the

Washington

meeting of the working group on energy security co-

chaired by the Ukrainian Energy and Coal Industry Minister Yuriy

Boyko and Special Envoy of

the United States

Secretary of State for

Eurasian Energy Richard Morningstar.

The United States

welcomed the steps taken by the Ukrainian government to

create volatile economy model. "A successful energy program will reduce

dependence on traditional resources such as gas," said Richard Morningstar.

"

Ukraine

has made concrete steps toward development of shale gas

production. The first license tenders have been awarded to Shell and Chevron.

Ukraine

will continue moving in this direction, since the potential of shale gas is

huge," said Yuri Boyko. According to the minister,

Ukraine

will soon hold new

tenders for the development of two deep-water areas on the Black Sea shelf.

During the meeting the working group also discussed issues of energy security

in Eurasia, the U.S. and the EU's position regarding the "South Stream",

prospects of creating Consortium to manage and finance Ukrainian GTS

modernization, ways of diversifying energy supplies to

Ukraine

, as well as the

reform of Ukrainian state owned oil and gas company Naftogaz. The parties

approved of the progress of the program of reactivation of the dormant

marginal oil and gas fields. This project has been supported by the U.S. Agency

for Trade and Development and the U.S. Department of Energy.

The Working Group also highlighted bilateral cooperation in the nuclear sector.

"

Ukraine

fulfilled all its promises to transfer highly enriched uranium to

the

United States

. Moreover, we are actively working on improving nuclear safety

programs at Ukrainian nuclear power plants and have achieved significant

results there," concluded Boyko.

In

February 2011

Ukraine and

the United States

signed the Memorandum of

Understanding On Unconventional Gas Resources, which includes a program of

joint activities between the two countries for the development of

unconventional gas production in

Ukraine

.

Previously, Energy Minister Boyko stated that

Ukraine

planned to set up

domestic shale gas extraction in five years. Comparatively, it took the U.S. 20

years to accomplish similar goal. By 2020 Ukraine plans to extract four to five

billion cubic meters of shale gas annually.