The Ukrainian government is launching major natural gas extraction projects in the country, as joint ventures with leading Western companies. At present, Ukraine depends on Russian gas imports for more than 60 percent of Ukraine’s total annual consumption. The government’s goal is not simply to reduce Ukraine’s dependence on Russian gas, but—far more boldly—to eliminate that dependence entirely and achieve self-sufficiency by boosting gas extraction within the country.
The Ukrainian government is currently working with Chevron, ExxonMobil, and Royal Dutch Shell toward that goal. These projects are variously targeting shale gas, tight gas, and conventional gas, onshore and offshore on Ukrainian territory.
According to President Viktor Yanukovych’s statement, occasioned by the agreement just signed with Chevron (see [link]), the projects with Shell, ExxonMobil, and Chevron would enable Ukraine to become self-sufficient for gas supplies by 2020.