“Chevron of the U.S. and Royal Dutch Shell are set to be named by Ukraine ahead of three other energy majors to explore two vast fields for unconventional natural gas resources,” the Financial Times reported on May 10 citing a source familiar with the situation.
“Kyiv hopes the multibillion-dollar projects will lure other big foreign direct investments and help, in the long term, to reduce its fragile economy’s heavy dependence on increasingly expensive Russian gas imports,” the Financial Times reported.
Financial Times: Chevron and Shell near Ukraine gas deals
According to the Financial Times, \"The tender could lead to some of the biggest shale gas extraction projects, using U.S.-developed technology, in central and Eastern Europe. Ukraine is betting that the investment and knowhow of energy majors will replicate the production boom that has transformed the U.S. in recent years from an importer to net exporter of natural gas.\"
