The head of Naftogaz discussed with ExxonMobil and Chevron investments in the energy sector of Ukraine
Kyiv expects to attract foreign investment in the country's energy sector. Negotiations are part of Ukraine's strategic plan to increase gas production
The head of Naftogaz Ukrainy, Oleksiy Chernyshov, held talks with American companies ExxonMobil, Halliburton, and Chevron, Kyiv expects to attract foreign investment in its energy sector, writes The Financial Times (FT).
The talks are part of Ukraine's strategic plan to increase natural gas production, the newspaper notes. According to Ukrainian officials, in the coming years, this will replace Russian supplies to Europe.
According to Chernyshov, in recent days he met in Washington with representatives of Halliburton and ExxonMobil. The head of Naftogaz spoke with the management of Chevron in January.
“We understand that it is quite difficult for private companies to take steps during a war,” he told the FT. “We are working on insurance mechanisms to protect their investments. Of course, it will take some time,” said Chernyshov.
The head of Naftogaz also said that he had spoken with White House officials and congressmen from both parties in recent days to garner more political support for American investment in the country's energy sector.
Falling energy demand in Ukraine due to the economic turmoil means it could have gas reserves to ship to Europe, as well as storage facilities that European countries could use to stockpile fuel ahead of winter, the paper said.
Naftogaz hopes to soon sign a contract with Halliburton, which will increase gas production to 13.5 billion cubic meters. m this year. Negotiations with Exxon and Chevron are still "at an early stage."
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“We want them to significantly expand [their presence]. We take this seriously,” assured the head of the Ukrainian company.
At the end of February, Chernyshov told Bloomberg that Ukraine plans to stop importing gas this year by increasing domestic production to meet its needs. According to the plan for the current year, Naftogaz should increase production by 8%, and private companies by 16%.
The head of the company noted that the damage to oil and gas facilities from Russian missile strikes on energy infrastructure is already about $1 billion. Ukraine".
According to last year's estimates from the International Monetary Fund (IMF), this year Ukraine will need to purchase 5 billion cubic meters. m of gas. Naftogaz agreed with the IMF calculations.
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