Ukraine Gets Ready to Tap Shale Gas
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Susan Phillips
Ukraine’s energy minister announced plans to auction off rights to drill for natural gas in the country’s untapped shale deposit. Ukraine has an estimated 88 trillion cubic feet of recoverable shale gas. A new report by the U.S.G.S says the Marcellus Shale could yield 84 trillion cubic feet of gas.
From the UPI:
U.S. supermajor Exxon Mobil signed a preliminary deal with Naftogaz early this year and Ukrainian Energy Minister Yuri Boiko said he was expecting shale gas auctions soon.
Ukrainian officials say the shale gas could begin to be tapped as early as next year. Ukraine has always depended on Russia for its supply of natural gas. Officials hope the shale gas deposits will help boost their energy independence.