Artificial adjustment of the price for extracted gas will lead to a steep drop of natural gas production.

Friday, October 15, 2021

The initiative to restrict the rights of independent gas producers to sell gas at market prices contradicts the Law of Ukraine “On the Natural Gas Market”, as well as all the reforms implemented in recent years to liberalize the gas market in Ukraine. This will deal a blow to Ukraine’s image in the international arena and negatively affect European integration processes. According to preliminary estimates, losses could amount to UAH 10 bln ($380 mln). The curtailment of investment projects will affect the reduction of own gas production. Thus, over the past 5 years, private gas companies have increased production by more than 20%. According to the results of 2021, the total production by independent companies should be 5 billion m3, which will be a record for Ukraine.

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