Announced by the Government guideline for economic growth at 4-5% per annum
would allow for the country to apply the needed resource for development, which
would become the basis for, in particular increased domestic gas production and
100% delivery of Ukrainian fuel to consumers. This
was stated by Prime Minister of Ukraine Volodymyr Groysman on air of the ICTV channel.
"I want Ukraine to become the state that satisfies its demand in gas through
domestic production. This idea will enable us to reduce
the price for gas. This
can be done fundamentally in 2020," said Volodymyr
why it's vital for us to ensure a 5% growth at least."
The Head of Government has repeatedly drawn attention to the fact that
Ukraine has every opportunity to achieve energy independence - by increasing
the extraction of its own fossil fuels, especially gas, and liberalization of
the fuel market, and hence the systematic reduction of gas prices inside the
state. Increase in extraction will occur simultaneously with the modernization
of the industry through the introduction of sectoral
support programs and a possibility of payment of VAT in installment when
importing the necessary equipment, as well as simultaneously with the
introduction of energy efficiency programs.
According to scientific data, Ukraine owns 276 billion cubic meters of gas
reserves (140 deposits). The total potential of deposits is three times higher
- 923 billion cubic meters. Over the past decades, Ukraine has only reduced the
volume of its own gas extraction, including through a series of political
decisions. The positive dynamics of gas production was recorded in 2016.