Ukraine changes law to facilitate gas production

President of Ukraine Petro Poroshenko signed a law simplifying the procedure for obtaining drilling permits for oil and gas production. Thanks to the new law, the waiting time for permits has been reduced, and foreign organizations will be able to obtain them easier than before.

This act is intended to help Ukraine increase its own gas production. Ukraine produces about 20 billion cubic meters of gas a year. Nevertheless, Kiev would like to see the national production of raw materials reach 25-30 billion cubic meters of gas per year by the middle of the next decade. Adding to this the import of gas from the west, Ukraine could completely do without gas from Russia.

Just a few years ago, Ukraine was the largest importer of Russian gas. It bought more than 40 billion cubic meters annually.