U.S. Will Help Ukraine Increase Energy Independence
KYIV, Ukraine, August 14, 2013 /PRNewswire/ –
Supporting Ukraine’s aspirations to achieve greater energy independence remains one of
the major priorities of the newly appointed U.S. Ambassador to Ukraine Geoffrey R. Pyatt.
Such statement was released after his recent interview with radiosvoboda.org. Another
priority is to advance Ukraine’s European choice, and the wish of Ukrainian people to move
toward institutional Europe, noted the U.S. official.
Ukraine’s energy independence remains an important commercial as well as geostrategic
initiative, stated U.S. Ambassador Pyatt. He also talked about the strong commitment of
the two big U.S. oil companies, ExxonMobil and Chevron, to participate on the Ukrainian
energy market. “Both companies… want to bring the best of American technology, American
know-how and American capital to the Ukrainian energy sector in a way that would be very
good for the Ukrainian people and will help Ukraine to advance its goal of greater energy
independence,” he noted.
As of now Chevron seeks approval of Ukrainian authorities at the regional level, while
ExxonMobil continues to negotiate the terms of the production sharing agreement with
Ukrainian government. Once ExxonMobil signs the agreement the initial investment could
amount to USD 325 million said Kevin Biddle, the company’s European exploration director
in his July interview with kommersant.ua. Potentially, the investment may reach billions
of dollars in case the company finds gas and oil, added Biddle.
Back in February 2013, the State Department’s Special Envoy and Coordinator for
International Energy Affairs Carlos Pascual stressed that the current reforms that were
taking place in Ukraine could transform the country into an important energy hub of
Eastern Europe. Ukraine’s actions are complementary to actions and priorities of Europe,
noted the US State Department official.
In an effort to develop domestic gas resources, Ukraine cooperates with global energy
companies which will develop gas deposits in western and eastern regions of Ukraine, as
well as in the deep marine shelf of the Black Sea. Namely, Shell won the right to explore
gas in Yuzivske gas field in Eastern Ukraine in May 2012. In August 2012, Shell,
ExxonMobil, Romanian OMV Petrom, and Ukrainian state company Nadra received joint rights
to develop underwater deposits at Ukrainian deep marine shelf field under the Black Sea.
SOURCE Worldwide News Ukraine