Business news from Ukraine


4 September , 2019  

Ministry of Energy and Environment Protection of Ukraine will develop a new energy strategy of Ukraine, said minister Oleksiy Orzhel. “The energy strategy will be definitely reviewed because we have a strategy, which isn’t fulfilled,” he said at a briefing in Kyiv on Monday.
In particular, the minister noted among the priorities the increase in gas of own production, as the existing potential is not used enough. According to him, the gas production level in Ukraine corresponds to 1.2% of reserves, while the global trend in the world is 4%-5%.
“There will be legislative initiatives to increase gas production. There will be reforms on the market, we invite everyone to invest,” Orzhel said.
He added that the issue of such investments has been discussed with American partners at the negotiations in Poland that took place on the weekend.
Besides, the minister reminded that Ukraine has recently launched open licensing competitions.

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