OREANDA-NEWS. Already at the beginning of the next decade Ukraine can be transformed from an importer to a gas supplier to Europe, Prime Minister of Ukraine Mykola Azarov announced during the session of the Cabinet of Ministers of Ukraine on October 30.

Prime Minister stressed Ukraine possessed good prospects in realization of projects for search of gas from non-traditional sources.

“In case of successful realization of approved by the Government projects on search of gas from non-traditional sources, Ukraine can repeat the success of the USA which at the account of shale gas extraction reduced market prices of the natural gas on the domestic market from USD 460 per thousand cubic meters in 2007 to the current level amounting USD 110-120 now. Already at the beginning of the next decade Ukraine can be transformed from an importer to a gas supplier to Europe,” Mykola Azarov explained.

It should be noted the Government is to consider a draft order “On approving a draft Agreement on distribution of hydrocarbons extracted in the boundaries of Oleska area”.

Pursuant to the Agreement, the Shevron transnational oil gas company will invest USD 350 mln into exploration of shale gas in Lviv and Ivano-Frankivsk regions. At that, overall investments into gas extraction have to amount over USD 10 bln.

There will be created 10-15 thousand workplaces. Additional revenues to the budgets of all levels will make up several hundred billion hryvnyas through the time of realization of the project. Under the baseline scenario annual gas extraction volumes can reach 8-10 bln cu m of gas.