Ukraine has presented its first investment projects under a strategic agreement with the United States regarding the use of natural resources to strengthen the economy during wartime. One of the key participants in potential joint initiatives is the Naftogaz group, which has already submitted ten projects for consideration in the fields of gas extraction and energy efficiency improvement. The Cabinet of Ministers of Ukraine plans to implement at least three of these initiatives by the end of 2026.
This is reported by Finway
Revival of Projects in Shale Deposits
More than ten years ago, leading global energy corporations Shell and Chevron began exploring shale gas in Ukraine. However, due to Russia’s annexation of Crimea and the onset of hostilities in the east in 2014, these companies were forced to leave the market. At the same time, the Oleska site in western Ukraine, where Chevron planned to operate, remains open for further development.
Import of Liquefied Natural Gas from the USA
Ukraine has some of the largest natural gas reserves in Europe. However, due to regular strikes by Russia on extraction facilities and underground storage, Naftogaz is suffering significant losses, prompting the company to increase its gas import volumes. Currently, about 10% of the imported volume comes from the USA in the form of liquefied natural gas (LNG) through the Polish company PKN Orlen. At the same time, Naftogaz is actively negotiating directly with American producers to organize direct LNG supplies.
Ukraine has presented its first projects under the agreement with the USA on mineral resources to support the economy during wartime.