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    Chevron's Quitting Shale Gas Project in Ukraine Unconfirmed

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    Ukraine's national joint stock company stated that it had not received any notice from the US energy giant Chevron concerning its intention to quit a joint shale gas project in the country.

    MOSCOW, December 15 (Sputnik), Alexander Mosesov — Ukraine's national joint stock company 'Nadra Ukrayny' told Sputnik News Agency Monday that it had not received any notice from the US energy giant Chevron concerning its intention to quit a joint shale gas project in the country's West.

    "National joint stock company 'Nadra Ukrayny' has not currently received official notice from Chevron… as well as any reports of unilateral withdrawal from the shale gas project by Chevron," Nadra Ukrayny's press-secretary Marina Ivanchik told Sputnik.

    Earlier on Monday, media reported that Chevron notified the government of Ukraine of the withdrawal from the shale gas project in the Oleska field, situated in the country's western regions. It was also reported that Chevron was dissatisfied with the governmental taxation policy.

    On November 5, 2013, Ukraine signed a product sharing agreement (PSA) with Chevron for the extraction of shale gas in the country's West in a move to reduce its dependence on gas deliveries from Russia, which introduced a prepayment system for gas deliveries in June over Kiev's massive accumulated debt.

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    shale gas, Chevron, Ukraine
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