Thursday 26 December 2013

Ukraine, ExxonMobil delay signing of PSA on Black Sea field - Natural Gas | Platts #euromaidan #євромайдан

Ukraine, ExxonMobil delay signing of PSA on Black Sea field - Natural Gas | Platts News Article & Story:

"Ukraine and an ExxonMobil-led consortium postponed by at least a month until January 2014 the signing of the production sharing agreement on tapping a Black Sea natural gas field, Energy and Coal Industry Minister Eduard Stavytskiy said.

The agreement, which was expected to be signed by the end of November, targets the offshore Skifske gas field that is expected to produce between 8 billion cubic meters and 10 billion cu m of gas annually.

'The agreement is ready,' Stavytskiy said at a press conference late Wednesday. 'We have moved [the signing] to January by mutual consent.'

Stavytskiy did not disclose the reason for the delay, but the government had been facing a major political crisis and massive street protests since November 21.

The protesters took to the streets after the government had refused to sign political association and free trade agreements with the European Union on November 29. Instead, President Viktor Yanukovych went to negotiate $15 billion bailout package and lower natural gas prices from Russia in a deal signed on December 17."

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