Ukraine plans to increase gas extraction by 8-9% in 2014, says minister

14:39, 05.02.2014 1 min read

Ukraine in 2014 plans to increase gas extraction by 8-9% compared with 2013, to 22 billion cubic meters, Ukrainian Energy and Coal Industry Minister Eduard Stavytsky has said.

"According to the projected indicators of the industrial programs of mining enterprises, we expect that total natural gas production will be at 22 billion cubic meters in 2014," he said in an interview with the Uriadovy Kurier newspaper published on Wednesday.

He said that the country should not expect that hydrocarbons would be extracted under production sharing agreements (PSAs) signed recently with several largest international oil and gas companies in 2014. This year it is planned to start exploration of the Yuzivska field.

"The extraction of fossil fuel under PSAs signed last year on the Yuzivska, Oleska fields and the Subbotina, Abikha, Mayachna and Kavkazka hydrocarbon blocks of the Black Sea shelf is not planned in 2014," the minister said.

Stavytsky also said that mines under management of the ministry plan to extract 25.68 million tonnes of coal in 2014, which is 6.3% up on 2013.