Ukrgazvydobuvannia predicts 2.6% fall in gas production in 2015

12:38, 16.02.2015 1 min read

Head of public joint-stock company Ukrgazvydobuvannia Serhiy Kostiuk has predicted that gas production in 2015 will fall by 2.6%, from 15.1 billion cubic meters (bcm) in 2014 to 14.7 bcm.

"I think that it's impossible to retain production at the level of 2014. Extraction will fall, the question is by how much," he told reporters in Kyiv on February 13.

He said that the fall in gas production is linked to the loss of fields owned by the company as a result of the hostilities in Donbas.

Kostiuk said that in 2015 the company lost another two fields in Luhansk region, where annual production was around 50-70 million cubic meters of gas.

"It will be around 600 million cubic meters less. We plan to produce 14.7 bcm this year," he said.

Ukrgazvydobuvannia, 100% owned by Naftogaz Ukrainy, is the largest gas producing company in the country, providing about 75% of total gas production in Ukraine

The company also operates the Shebelynka gas refinery.