Ukraine to Partner With Chevron in Shale Gas Exploration

SAN RAFAEL, CA - AUGUST 13: Chevron customers pump gas into their cars at a Chevron gas station August 13, 2010 in San Rafael, California. U.S. retail sales rose 0.4 percent in July fueled by sales of cars and gasoline. 
National Journal
Clare Foran
Nov. 6, 2013, 1:47 a.m.

Ukrain­i­an gov­ern­ment of­fi­cials reached a deal with Chev­ron Tues­day to al­low the com­pany to ex­tract shale gas re­serves from the coun­try’s Olesska field, Re­u­ters re­ports.

The move comes at a time when mount­ing ten­sions between Ukraine and Rus­sia, the ma­jor sup­pli­er of nat­ur­al gas to East­ern Europe, have pushed Ukraine to pur­sue great­er en­ergy in­de­pend­ence.

It fol­lows a sim­il­ar deal reached with Roy­al Dutch Shell in Janu­ary to be­gin shale ex­plor­a­tion in the coun­try.

Ukrain­i­an Pres­id­ent Vikt­or Ya­nukovich hailed the part­ner­ships as a boon. “The agree­ments with Shell and Chev­ron … will en­able us to have full suf­fi­ciency in gas by 2020 and, un­der an op­tim­ist­ic scen­ario, even en­able us to ex­port en­ergy,” he com­men­ted.

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