Ukraine aims to create Eastern European gas hub, increase gas production to 35 bcm

12:44, 22.11.2017 1 min read

Ukraine plans to secure the creation of an international Eastern European gas hub in the country's gas sector development strategy by opening the domestic gas market and integrating it into the European market, Deputy Prime Minister Volodymyr Kistion has said.

"Our goal is an international gas hub, I would say, an Eastern European gas hub. This is an ideal promising model of the gas market for Ukraine," he said, while presenting the strategy at a government meeting in Kyiv on Wednesday.

He also noted that in the long term, until 2035, the task was to increase domestic production of natural gas to 35 billion cubic meters and reduce its consumption to 30 billion cubic meters, which will create opportunities for annual exports of five billion cubic meters.