Gas Deal with Russia Not to Affect Ukraine Shale Gas Agreements

December 19, 2013

A deal for cheaper Russian gas agreed between Russia's Gazprom and Ukraine's Naftogaz will not affect agreements between Kiev and Western energy companies for shale gas exploration, Ukraine's energy minister said on December 18, Reuters has reported.

"The agreement with Gazprom in no way will weigh on the realisation of the projects with Shell and Chevron," Eduard Stavytsky told journalists.

Russia and Ukraine on December 17 reached agreement on a $15 billion aid package which includes lowering the price for Russian gas deliveries to Ukraine by about a third.

Earlier this year, the Kiev government signed separate agreements with Royal Dutch Shell and U.S. energy major Chevron on exploring for shale gas in Ukraine as part of moves to secure greater energy independence from Russia.

Copyright: Reuters, 2013