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
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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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