In Ukraine accelerated the decline of gas production

В Украине ускорилось снижение добычи газа

Photo: Ukrgazdobycha

Gas production in Ukraine (archive photos)

The subsidiary engaged in the development medium-term strategy for gas exploration and production, taking into account new market factors.

Ukraine’s largest gas producer, state company Ukrgasdobycha in Jan-Jun 2020 reduced gas production by 0.8% compared to the same period last year. This was reported on its website on Thursday, July 23.

“In the first half of 2020, the company enabled the output of 6.69 billion cubic meters of gas, which was supplied to the population, and CTV. Deviation from the same period last year is minus 0.8 percent, or 53 million cubic meters of natural gas, while average gas selling price by the company decreased by 47% compared with the first half of 2019”, – stated in the message.

In the company say that currently, we are developing medium-term strategy for gas exploration and production, taking into account new market factors.

“We are changing approaches to the management of projects in the field of gas exploration and production. Develop medium-term strategy for gas exploration and production, taking into account new market factors. Among its main goals is to increase the resource base of hydrocarbons. In fact, is to create a new Foundation for the development of the industry”, – said the Director of the division of Naftogaz exploration and production Alexander Romaniuk.

We will remind, in January-March 2020, the company reduced gas production by 0.4%. Thus, at the end of six months, the decline in gas production has accelerated twice.

Thus by the end of 2020 the company expects to increase gas production by 1.5% to 13.8 billion cubic meters.

korrespondent.net