Europe’s rock bottom gas prices are prompting gas producers in Ukraine to shelve investment projects, the Association of Gas Producers of Ukraine warns in a statement posted this week on its website.

Europe’s rock bottom gas prices are prompting gas producers in Ukraine to shelve investment projects, the Association of Gas Producers of Ukraine warns in a statement posted this week on its website. “Under the current conditions, there is a real threat of a drastic reduction in production as a result of the partial or complete reduction of investment. Today, the industry is in dire need of incentives, without which it is impossible to expect continued drilling of new wells and exploration at new fields.” Incentives should take the form of tax breaks. Last year, Ukraine produced 20.7 bcm, 78% of consumption.