Facing potential cuts in Russian gas deliveries in 2020, Naftogaz plans to invest $1.2 billion to boost natural gas production next year, Yuriy Vitrenko, the state energy company’s chief commercial officer, tells reporters. Naftogaz also will invest $260 million to upgrade its massive east-west pipeline system. Gazprom’s gas transmission contract expires at the end of 2019. At the same time, Gazprom plans to start shipping gas to Germany through Nord Stream 2. Ukraine worries that its gas transit revenue will drop sharply in the early 2020s and that Gazprom will stop selling to Slovakia and Poland sufficient volumes for resale to Ukraine.
Facing potential cuts in Russian gas deliveries in 2020, Naftogaz plans to invest $1.2 billion to boost natural gas production next year
