Ukraine has signed a major gas exploitation deal worth a potential 7.5 billion euros with the Dutch energy giant Shell in a move away from dependence on Russian fuel.
They signed on the dotted-line for the 50 year production-sharing agreement on the sidelines of the World Economic Forum in Davos.
It is Europe’s biggest shale gas contract yet, and the biggest foreign investment in the former soviet republic.
Ukraine’s energy minister Eduard Stavytskyi told euronews: “I am sure that this is a very important step towards the energy independence of our state. That’s why we are developing relationships with European partners. Right now that’s Royal Dutch Shell.”
Not everyone is happy though. Opponents have repeated concerns about the so-called fracking techniques that extract the gas.
MP Andriy Mkhnyk from the opposition Svoboda party said: “We need a transparent scheme of gas extraction, we need to understand what the risks are and who will pay if it impacts adversely on the environment. Who would clean up, or would the Ukrainian people be left again to deal with all these problems alone?”
Full gas production depends on successful results from 15 test wells. Even then, it will still be some years before the gas starts flowing fully.
Disputes between Kiev and Moscow have disrupted supplies of Russian gas in the past. In 2006 and 2009 Russia shut the taps, leaving many EU customers without fuel in the depths of winter.
- 1euronews live TV - News | euronews : the latest international news as video on demand
- 2International news | euronews, latest international news
- 3Hope vs harsh reality: challenges to global education goals in the 21st century
- 4Madrid to appeal Catalan road to independence from Spain
- 5Thousands in Bucharest blame corruption for Friday’s nightclub blaze
- 6Jorge Lorenzo clinches his third MotoGP title in Valencia
- 7Turkey: Explosion hits Istanbul’s main tourist district
- 8Paris: “I would rather see my brother in prison than in a cemetery”
- 9Extras : euronews : the latest international news as video on demand
- 10Partnering to grow Europe
- 11Macedonian Postcards: The Mavrovo National Park
- 12Moldova: protesters storm Parliament
- 13Benzema questioned in French sex tape case
- 14Business news and finance news | euronews: international economic and finance news
- 15Brussels remains on high alert: ‘multiple operations underway’ across Belgium
- 16Special Reports : euronews : the latest international news as video on demand
- 17Norway sends Syrian refugees back to Russia
- 18smart care - All Programmes | euronews : the latest international news as video on demand
- 19latest Learning World - All Programmes | euronews : the latest international news as video on demand
- 20Meet Bernie Sanders, the democratic socialist who wants to be US president
Latest world news
Five migrants saved from channel after trying to sail to Britain from Calais
Suicide bomber attacks Pakistani military convoy
Pope Francis celebrates Jubilee day in honour of Padre Pio
World condemns North Korean satellite launch
Syrian refugees flee to Turkey border as Aleppo assault intensifies
Wires > News
- 19:08 CET El Salvador detains ex-soldiers for 1989 Jesuit priest killings
- 19:06 CET More than 3,100 pregnant women in Colombia have Zika virus -…
- 19:04 CET Nations aim for Afghan peace talks with Taliban by end-February
- 18:44 CET Anti-Islam movement PEGIDA stages protests across Europe
- 18:06 CET Stade de France reopens for first time since Paris attacks
- 18:01 CET Hundreds more candidates allowed to contest Iran election
- 17:41 CET Five killed in Austrian avalanche – police
- 16:31 CET Critic of Vatican leaves its sexual abuse commission