Gryshchenko: Ukraine seeking to take place among centers of gas production in Europe

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June 12, 2012, 3:56 p.m. | Business — by Interfax-Ukraine
Ukraine is ready to work with Italian and other energy concerns, which could place Ukraine among the centers of natural gas production in Europe through developing unconventional gas resources, shale gas and subsea production in the country, Ukrainian Foreign Minister Kostyantyn Gryshchenko has said. Gryshchenko said this addressing a meeting of around three dozen Italian politicians and businessmen at FareFuturo, one of Italy's leading think tanks, in Rome on Tuesday, according to the information policy department of the Ukrainian Foreign Ministry.

The Ukrainian foreign minister said that Western energy giants Shell and Chevron have already entered the Ukrainian gas production sector.

He said that an early entry into force of the Association Agreement between Ukraine and EU, including deep and comprehensive free trade area, could significantly help Italian business expand the export markets for its products amid the protracted financial crisis in the EU.

"Everyone in the EU who cares about supporting their countries' economies should speak against the creation of artificial political barriers to signing the Association Agreement with Ukraine," the foreign minister said.

As reported, Ukraine has set itself the task of diversifying its supplies of energy and increasing oil and gas extraction in the country.

Naftogaz Ukrainy has signed several memoranda and agreements on cooperation with large international companies, such as Total, RWE and Eni.

In addition, it is expected that by the end of 2012, PSA agreements will be signed for extraction of hydrocarbons that will be produced on the Yuzovska and Oleske field with Shell and Сhevron.
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