Naftogaz was allowed to extract gas in the Black Sea: Ukraine can completely refuse to import | Macroeconomic



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Naftogaz or its owned companies will be able to produce blue fuel on the Black Sea shelf. The cost of a special permit for such work will be 10% of the initial price (if the water depth is up to 100 meters) and 1% if the depth is greater than 100 meters.

The corresponding decision was made by the Cabinet of Ministers in a meeting on November 25. According to government estimates, 10 billion cubic meters of gas can be produced annually on the offshore platform. This volume will be enough to completely abandon the import of blue fuel.

Some numbers:

  • with a consumption of UAH 30-34 billion, Ukraine produces 20-21 billion cubic meters;

  • the gas fields that are already being developed are more than 80% depleted;

  • the Black Sea shelf can produce 10 billion cubic meters of gas per year (a promising resource of up to 2 trillion cubic meters).

How much gas does Ukraine produce and consume?

Note that previously, Naftogaz planned to increase its own gas production to 20 billion cubic meters per year by 2020. At the same time, it now produces only about 15 billion cubic meters per year. The plan failed because the company was unable to obtain licenses for the development of new fields.

If the fields already discovered are exploited, the volume of gas production will fall annually. At the same time, more and more blue fuel will have to be bought abroad. This leads to the devaluation of the hryvnia (as they spend currency) and high gas tariffs for the population.

As OBOZREVATEL previously wrote, Ukraine has recorded a record increase in gas imports from the EU. It reached 70 million cubic meters per day. This is a record since 2014, when there were still imports from the Russian Federation. In addition, it offers not only Naftogaz, but also European companies.

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