(+9.0%)
For the ninth month, Ukraine has been under daily shelling, but Russian terrorists have been unable to intimidate or break the Ukrainians.
Gas producers continue to operate and produce gas where it is physically possible. Moreover, companies are drilling new wells, carrying out major repairs, restoring activity in de-occupied territories, implementing production sharing agreements (PSA), and paying taxes to support the economy. Ukraine is also conscientiously fulfilling its obligations to European partners by transporting gas to the EU. This was emphasized by the Executive Director of the Association, Artem Petrenko, during his speech at the Energy Security Forum 2022 - Post-War Restoration of Ukraine's Energy Sector.
"The Ukrainian gas industry has significant potential for development and increasing production volumes after the victory in the war. Over the next decade, gas will be a key fuel on the path to decarbonizing the economy in Europe and the world, and its demand will only increase. Ukraine, possessing powerful gas reserves onshore and the Black Sea shelf, can become a major player in the European energy market. Increasing natural gas production will help our country not only to become energy independent, but also to export fuel to the European Union," emphasized Artem Petrenko.
Ukraine has a lot to offer for international companies that are interested in investing in hydrocarbon production. This includes the development of offshore blocks, the development of unconventional deposits, drilling of ultra-deep wells, projects for intensifying production in depleted fields, as well as partnerships regarding PSA.
"Joint and coordinated work of the state and business, the attraction of new investors, fair fiscal policy, simplification of permitting procedures, stability and predictability in the sector are the key to increasing gas production in the country," - emphasized Artem Petrenko.