Contract renewal is subject to two other conditions

Contract renewal is subject to two other conditions. To meet EU rules, a gas transportation company must take over management this year of Ukraine’s gas pipeline system. In addition, Prime Minister Groysman wants domestic gas production to increase to reach energy independence. National production, largely by a Naftogaz unit, accounts for about 70% of Ukraine annual consumption of 28 billion cubic meters. Ukraine has 1.1 trillion cubic meters of gas, the largest proven deposits in Europe, according to the 2018 BP Statistical Review of Energy.