Azarov says domestic gas reserves will last many years

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Oct. 5, 2012, 7:24 p.m. | Ukraine — by Interfax-Ukraine

Azarov thinks that in 15 years Ukraine will fully provide itself with its own natural gas.

Ukrainian Prime Minister Mykola Azarov has said that the task of providing Ukraine with domestically produced natural gas in 15 years is achievable.

"We have measured gas reserves of about two trillion cubic meters of natural gas on the shelf. There are also gas reserves in shale deposits. It's clear from the figures I provided that our own gas reserves are enough to last many years. It's only important to ensure their operation. And this requires a lot of costs," he wrote on his page on Facebook, while communicating with users on Friday.

"International experience shows that it's necessary to spend about $1 billion in order to increase gas production by one billion cubic meters. That's why, I set a realistic term for ensuring the provision of Ukraine with domestic gas," he added.

As reported, during the ninth Yalta Annual Meeting "Ukraine and the World: Addressing Tomorrow's Challenges Together," which was organized by the Yalta European Strategy (YES), in partnership with the Victor Pinchuk Foundation, on September 17, Azarov said: "Ukraine will fully provide itself with its own natural gas reserves in 15 years."

In addition, the prime minister said that Ukraine would halve gas consumption next year.

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