Ukraine plans to increase its gas production up to 24 billion cub.m, Ukrainian President Viktor Yanukovich said during his working trip to Svetlodarsk city, Donezk district, today.
The Ukrainian presidential press office quoted him as saying: “During the past two years the country has significantly increased gas production up to 21 billion cub.m. a year. Our goal is to extract even more. Soon gas production will be increased up to 24 billion cub.m.”
He added that now Ukraine pays the highest gas price in Europe. “We cannot buy so much gas at such a high price. We will take every effort to reduce expensive gas purchase and look for cheaper gas and we will diversify its deliveries,” Yanukovich said. He reminded that in 2010 Kiev bought 42 billion cub.m. of gas from Russia, while this year it will import 18 billion cub.m.—0--
Economics
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Azerbaijan’s ADY Express, a subsidiary of Azerbaijan Railways CJSC, signed several strategic agreements on the sidelines of the Logitrans Türkiye 2024 exhibition in Istanbul, Turkey, reinforcing its commitment to expanding freight transport services along the Middle Corridor.
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Azerbaijan plans to establish state-of-the-art battery storage facilities for green energy with a total capacity of 350 MW within the next 4-5 years, a well-informed source in the Ministry of Energy told Turan.
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Shareholders of the Caspian gas condensate "Absheron" project plan to approve the Front End Engineering Design (FEED) in December, laying the groundwork for full-scale development of the field, an informed source told Turan.
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In 2024, Europe will receive approximately 12.5 billion cubic meters of gas from Azerbaijan, with the list of buyers expanding to 12 countries. Speaking at an energy forum in Istanbul on Friday, SOCAR President Rovshan Najaf announced that cooperation with a 12th, new gas buyer would begin in December.
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