Energy ministry supports reduction of gas royalties to 35%

11:30, 09.06.2015 1 min read

The Energy and Coal Industry Ministry of Ukraine supports the reduction of royalties for gas extraction from the current rate of 55% (from deep wells) to 35%, Energy and Coal Industry Minister Volodymyr Demchyshyn said at a press conference in Kyiv on Monday.

"We recommend cutting the rate to 35%, and this would allow [for] attracting additional investment [in gas production]," he said.

As reported, the Ecology and Natural Resources Ministry of Ukraine believes it is better to cut gas royalties from 28-55% to 14-28%.