The Gas Potential of Ukraine

by Meifan Honcharuk
Thursday, October 21, 2021
2 MIN

Ukraine may refuse to import gas in 5 years because of the production of its own gas

Ukraine can fully provide itself with gas and refuse to import it within 5 years, said chairman of the board of the National joint-stock company Naftogaz of Ukraine Yuriy Vitrenko during a panel discussion at the Ukraine Gas Investment Congress in Kyiv

The goal can be achieved within 5 years. Success will depend on three factors:

  1. Use the potential of Ukraine and increase gas production

 Ukraine has perhaps the greatest potential for natural gas production in Europe. Gas hydrates of the Black sea are a potential source of energy. One of the promising opportunities for increasing the resource base of hydrocarbons in Ukraine, along with coalbed methane, shale gas and gas from tight reservoirs, is the search, exploration and development of accumulations of natural gas hydrates. The Black sea possesses significant potential resources of hydrate gas and is located in a region close to export consumers of hydrocarbons. The gas hydrates of the Black sea will be able to provide Ukraine with natural gas in the future for about 300 years.

  1. Increase in biogas production in Ukraine

It is a permanent and environmentally friendly solution. There is a huge potential for biogas production here because Ukraine is the largest country in Europe in terms of territory. The land is much cheaper than in Western Europe, so we have great opportunities for the construction of solar, wind power plants and biomass production. There is a developed agricultural sector in Ukraine, which is also important for biogas production.

  1. Improving energy efficiency to achieve energy independence for Ukraine

To achieve energy independence, Ukraine must work to reduce inefficient energy costs. The cheapest and most reliable energy is the one that you have not wasted.

On October 20, NJSC Naftogaz of Ukraine signed three memorandums with foreign companies on partnership in the exploration and production of gas, which is a big step towards financial independence.

 

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