Ukraine and the U.S. energy company Chevron have signed a $10 billion shale-gas deal that Kyiv says will lessen its dependence on Russian energy.
The production-sharing agreement signed in Kyiv on November 5 allows Chevron to explore and develop shale-gas deposits in the western Lviv and Ivano-Frankivsk regions.
Ukrainian President Viktor Yanukovych said before the signing ceremony that large-scale deals with Chevron and Shell "will enable Ukraine to fully meet its natural-gas needs by 2020."
Ukraine signed deals earlier this year with Shell and ExxonMobil.
Chevron says it will invest some $350 million in exploring sites in western Ukraine and that its investment in the project will eventually total some $10 billion.
The three sites to be exploited by the deals signed with the Western energy companies are estimated by Ukrainian officials to contain some 3 trillion cubic meters of gas.
The production-sharing agreement signed in Kyiv on November 5 allows Chevron to explore and develop shale-gas deposits in the western Lviv and Ivano-Frankivsk regions.
Ukrainian President Viktor Yanukovych said before the signing ceremony that large-scale deals with Chevron and Shell "will enable Ukraine to fully meet its natural-gas needs by 2020."
Ukraine signed deals earlier this year with Shell and ExxonMobil.
Chevron says it will invest some $350 million in exploring sites in western Ukraine and that its investment in the project will eventually total some $10 billion.
The three sites to be exploited by the deals signed with the Western energy companies are estimated by Ukrainian officials to contain some 3 trillion cubic meters of gas.
