Natural Gas--Ukraine to Boost Gas Output by 50% to Cut Dependency

Ukraine to Boost Gas Output by 50% to Cut Dependency

Ukraine, facing price increases from natural gas suppliers Russia and Turkmenistan, will seek to raise its extraction of the fuel 50 percent this year to reduce its dependence on Russia, Prime Minister Yuriy Yekhanurov said.

"We can extract at least 30 billion cubic meters of gas per year,'' Yekhanurov said Saturday in the central city of Poltava in remarks broadcast by Ukraine's Channel 5 television...

Ukraine wants to invest in gas and oil extraction in Libya, Egypt and the Black Sea together with international oil companies.
Ukraine will spend $100 million exploring for gas and oil this year, according to the government's budget.