Ukraine has presented its first investment projects under the strategic agreement with the United States regarding the exploration of mineral resources, aimed at supporting the country’s economy during the war.
This is reported by Business • Media
Naftogaz Initiatives in Collaboration with the USA
One of the key initiatives belongs to the Naftogaz group, which has already submitted 10 projects in the field of natural gas extraction and energy efficiency improvement. According to the government’s plan, three of these projects could be implemented by the end of 2026, which is expected to strengthen the country’s energy independence and create new opportunities for investors.
Revival of Shale Projects and New Gas Import Opportunities
More than ten years ago, corporations such as Shell and Chevron had already started projects for the exploration and extraction of shale gas in Ukraine. However, they abandoned these programs after Russia’s annexation of Crimea and the onset of hostilities in the east in 2014. At the same time, the Oleska field in western Ukraine, where Chevron planned to operate, remains available for further development.
Ukraine possesses some of the largest natural gas reserves in Europe, but due to constant attacks from Russia on extraction facilities and underground storage, Naftogaz is suffering significant losses. This forces the company to increase imports, particularly from the USA, from where about 10% of gas is already supplied in the form of liquefied natural gas (LNG) through the Polish company PKN Orlen.
At the same time, Naftogaz is actively negotiating with several American producers to arrange direct LNG supplies to Ukraine, which will further diversify energy sources and strengthen the country’s energy security.
Ukraine has presented its first projects under the agreement with the USA on mineral resources to support the economy during wartime.