Ukrainian Gas Diversification: Shale And LNG Considerations - Analysis Eurasia Review

Ukrainian Gas Diversification: Shale And LNG Considerations - Analysis Eurasia Review:

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Ukraine’s current energy situation stunts its economical and political development. While domestic production expertise is highly developed, the Eastern European country is completely dependent on importing energy products from Russia, placing unsustainable financial and political stresses on the country. Ukraine’s interest in capitalizing on the shale gas and LNG revolutions open opportunities to cut overall energy costs, expand supply diversification, and reduce reliance on Russian imports.

Shale Gas

Shale gas is a newly perfected form of extracting natural gas from shale rock. It has great potential in Eastern Europe – especially in Romania, Lithuania, Poland and Ukraine have substantial reserves.

Ukraine, one of an estimated 32 countries with extractable shale reserves, has up to 1.2 trillion m3 of shale gas according to the U.S. Energy Information Agency, with an annual national gas consumption of 44 billion m3. Ukraine is attempting to produce at least 15 billion m3 of gas from shale as a preliminary goal, and is making substantial progress toward this."

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