OREANDA-NEWS. September 20, 2011. Ukraine can start exporting gas of own extraction in 7-10 years, in particular - shale gas. This was started by Minister of Energy and Coal Industry of Ukraine Yuriy Boyko in the program "Great Policy".

"We are confident in the prospects of our GTS, because not only according to our estimates, but estimates of companies which have signed or will sign contracts with us, in 7-10 years we will become exporters of gas in particular - shale. And our gas transportation system will pump gas to direction that is demanded", - said the Minister.

He reminded that Ukraine has already signed a contract worth 800 million dollars with company "Shell" on the extraction of unconventional gas.

"And in the next 3 months we will sign a contract with five companies, among them "EksonMobil", "RWE", "Ani". All these companies have experience in extraction of shale gas or coal bed methane and it is extremely important for us"- Yuriy Boyko said.

According to him, in accordance with conservative estimates of foreign companies and agencies, reserves of shale gas in Ukraine are about five trillion cubic meters.

The Minister also said that a large-scale international conference would be held on September 29 in Kiev with representatives of the European Commission to modernize the Ukrainian GTS, and in November - another international conference on shale gas.

"This shows that leading companies look at us as a potential partner with shale gas extraction, which has substantial reserves of this energy" - Yuriy Boyko said.