"The country needs investments, it is the basis of the basics. Achieving a 40% share of foreign investments in Ukraine's GDP is a success. But today we need a totally different investment field" – Roman Opimakh, the executive director of the Association of Gas Producers of Ukraine, has pointed out during his speech at the Energy Security of Ukraine smart-talk at the Ukrainian Crisis Media Center.
"We have a substantial potential of hydrocarbons production in Ukraine, the intensity of reserves usage is only 2%. The potential is huge. We need to give access to geological information. Open it up for the investor. Actively implement fracking technologies, which are used worldwide, rather than blocking them."
According to the director of the Association, increasing domestic production is an important variable in establishing energy security. "Domestic natural gas – is our golden ticket to ensuring natural gas transits through Ukraine."
The main industry deregulation bill #3096-d is on the Parliament's agenda for Thursday, July 13th. The bill should simplify operations in gas production in Ukraine for the investors. The whole industry's expert community supports the initiative. The industry is awaiting the decision.
Moreover, the industry is asking the Government to sort out the situation of the local councils' blocking the issuing of the special permits to producers. "The whole Ukraine could witness on the video on the Internet, how the MPs themselves are instigating the local council members to block the issuing of special permits. The Government has to react to such howling incidents. It is over the edge... when the MPs are motivated by other things...
Considering all of the said above, we are inviting the investors to contribute to the industry, to develop it, to take on the risks in our country..."
We are hoping that this discussion will give a push towards increased responsibility of the Government for making real steps aimed at increasing energy security of Ukraine.