Economy 2024-04-15T06:17:09+03:00
Ukrainian news
Ukraine May Refuse Natural Gas Imports Within 5 Years - Vitrenko

Ukraine May Refuse Natural Gas Imports Within 5 Years - Vitrenko

gas, Naftogaz, Naftogaz of Ukraine, natural gas, gas import, Yurii Vitrenko, Vitrenko, natural gas import

Yurii Vitrenko, board chairperson of the Naftogaz of Ukraine national joint-stock company, states that Ukraine may refuse natural gas imports within five years.

Naftogaz has said this in a statement, Ukrainian News Agency reports.

"We can achieve this goal within five years. Success will depend on three factors. The first of them is the increase in natural gas production. We have the potential and examples that inspire," Vitrenko said.

He added that an equally important area is the increase in biogas production in Ukraine.

"There is a huge potential for biogas production, Ukraine is the largest country in Europe in terms of territory. Land is much cheaper than in Western Europe, so we have great opportunities for building solar, wind power plants and biomass production. We have a developed agricultural sector that it is also important for biogas production," Vitrenko emphasized.

He also noted the importance of improving energy efficiency for Ukraine to achieve energy independence.

As Ukrainian News Agency earlier reported, Naftogaz signed a memorandum with four foreign companies to increase natural gas production in Ukraine.

The Ministry of Economy states that the average customs value of natural gas imported by Ukraine, formed in the process of its customs clearance when imported into the territory of Ukraine, increased in September by 26.9% or USD 115.2191 per thousand cubic meters to USD 543.1 per thousand cubic meters compared to August (USD 427.8809 per thousand cubic meters).

The Naftogaz of Ukraine national joint-stock company is a leading enterprise in the country's fuel and energy complex, which is engaged in exploration and development of deposits, drilling, storage of oil and gas, transportation of oil, as well as supplying gas to consumers.