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You're reading: Ukraine’s energy business ‘optimized for corruption’

…Ukraine has been on a dangerous path toward energy insecurity, which has accelerated in the last two years. All the pity as Ukraine has enormous potential as an energy producer, efficient consumer, and key transit partner for Russia/Central Asia and Europe.

Until the discovery and major development of West Siberian gas fields in the 1970s, Ukraine was a net exporter of gas to the Soviet Republic of Russia. Ukrainian gas production peaked at 69 billion cubic meters in 1975 … Today Ukraine’s domestic gas production has stagnated below 20 billion cubic meters and it is two-thirds dependent on gas imports from Russia.

… If proper policies and investment conditions were in place, domestic gas production can easily increase by 50 percent in a few short years. Together with energy efficiency improvements, Ukraine can be more than 50 percent self-sufficient in gas. However, today, Ukraine … consumes two-thirds as much gas as Germany does, while its gross domestic product is less than 5 percent of Germany’s.

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