Ukrainian energy minister proposes put shelf fields seized by Russia up for tender to sign PSA

12:34, 03.11.2016 1 min read

Ukrainian Energy and Coal Industry Minister Ihor Nasalyk has proposed to put shelf fields seized by Russia to sign product sharing agreements (PSA) with foreign companies, he said at a meeting of the parliamentary energy committee in Kyiv on Wednesday.

"I am not a fan of who Naftogaz did [filed a claim over Crimean assets to international arbitration court]: if we let courts hearing all these things, nothing would happen and nothing would be taken from Russia. We have another proposal. I think that it would settle the issue – to put these fields up for sale under the law on product sharing. Let foreign firms to enter and they would be able to protect their gas volumes," he said.

Nasalyk recalled that annual gas production at shelf fields seized by Russia is around 1.3 billion cubic meters.

As reported, Naftogaz Ukrainy announced its plans to achieve resumption of control over assets lost due to the occupation of Crimea by Russia via international court institutions and refunding of all losses caused.