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Ukraine Will Focus on Hydrocarbon Production

The Ukrainian government has intensions to focus on widening of the domestic production of hydrocarbons as a priority policy in energy sector, First Vice Prime Minister Andriy Kluyev reported in an interview with Channel 5 television.

According to his word, prices for domestic gas should be brought in line with the production cost so that oil and gas companies could make from 8-13% profit.

The price of gas produced in Ukraine hasn't been raised for a few years, and as a result, domestic gas production has been unprofitable, Kluyev said.

If this situation continues, any growth in domestic gas production will be out of the question, which means that the energy security of the country will be threatened, the first vice prime minister added.

Kluyev admitted that once gas production by the national gas company Naftogaz Ukraine becomes profitable, the price of gas for households would no longer be grown.



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