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Ukraine signs $10bn shale gas agreement with Chevron

13 Nov 2013
The Ukraine has signed a $10 billion shale gas production-sharing agreement with U.S. Chevron.

The deal follows a similar shale gas agreement with Royal Dutch Shell in January, both of which drive the Ukraine in the direction of having more energy independence from Russia.

The highest expectations for the western Olesska field’s potential reserves would match around three years of European Union gas demand, although shale development in Europe is behind the US in terms of progress.

Ukraine pays $400 per thousand cubic meters for Russian gas under a 2009-10 agreement.