"Ukraine has to provide itself with domestic gas production within ten years by reducing the consumption and increasing the domestic production," Prime Minister of Ukraine Arseniy Yatsenyuk stressed at a board meeting of the Ministry of Energy and Coal Industry of Ukraine, on Tuesday, July 7.

The PM called energy efficiency and energy independence of the state one of the main strategic directions for Ukraine: "In ten years, Ukraine has to provide herself with her own gas."

For this purpose, Arseniy Yatsenyuk has underlined, it is necessary to change tax policy in the energy area: "Those who received licenses illegally and possess now so-called joint contracts will pay 70 percent of royalties. They have super-profits, they invest nothing in production, so the state will levy the so-called gas oligarchs until they switch to production-sharing agreements - transparent, understandable and European. "

As for private companies that are ready to increase gas production, the Prime Minister proposed the following formula: "If they give us the guarantee to increase production, then the state will move to a more progressive and efficient tax system in the energy sector."

He informed that during the Ukrainian-USA Business Forum, which will be held soon in Washington, the Government will introduce a new tax incentive system in the energy sector.

Moreover, in order to provide the country with its own gas, Arseniy Yatsenyuk stressed, we need to develop energy efficiency programs, as these programs is a separate issue in terms of Ukraine’s international cooperation.