(+1.7%)
Executive director of the Association of Gas Producers of Ukraine, Roman Opimakh: "Imagine that you have received the special permit (which is the basic document), and then you have to go through all the stages of the field development. And just the paperwork, with no real works performed, for those stages will take you 4 years combined. I am talking about 16 authorities you have to attend, some of which – more than once. I am talking about 44 permits taht you have to obtain. The foreign investor, who sees all of this and does not understand the local kitchen, of course, will not risk to enter the market. Maybe, some sort of partnership, maybe a joint venture. But on their own – very unlikely."
Additionally, the executive director has highlighed the sovereign risks of the country in general. "Definitely, the Association that I work for, unites 7 companies. Last year, all of the companies have gone through searches, the mask shows. Foreign companies, state-owned enterprises, independent producers – all of them were investigated."
Source: http://biz.nv.ua/publications/epoha-gazovogo-renessansa-1211269.html