Published on January 22, 2018
Ukraine aims to be self-sufficient in natural gas by 2022 and rely on its vast reserves, the government’s press service said Monday, citing Ukrainian Prime Minister Volodymyr Groysman.
The goal could be achieved through planned modernization of the industrial sector, which would help to boost domestic gas extraction, the government said on its website.
Currently, Ukraine’s gas reserves are estimated at 923 billion cubic meters, with proven reserves of 276 billion cubic meters, the statement said.
Under its program to modernize the industrial sector, Ukraine plans to implement energy-effectiveness initiatives and increase government support for gas producers, who import gas extracting equipment from abroad.
Last year, the East European country consumed 32.2 billion cubic meters of gas, of which 20.8 billion cubic meters were produced domestically.
In November 2017, Ukraine’s state-run gas extracting giant Ukrgazvydobuvannya purchased gas extracting equipment from two private Chinese firms with a total cost of 30 million U.S. dollars.