Movement to Create Adriatic Gas Corridor

Ukraine and Croatia will sign on Tuesday a memorandum on the establishment of an Adriatic Gas Corridor.

Ukrainian Prime Minister Mykola Azarov and his Croatian counterpart Zoran Milanovic will ink the document for the development of an LNG terminal and pipeline that will be built on the Adriatic coast.

Avarov said the development was in line with Ukraine's policy of diversification of energy supplies, production of hydrocarbons from unconventional sources, and transfer its energy to coal.

"We have set a goal to significantly reduce our dependence on gas supplies from Russia. And therefore a number of measures have been taken that enabled us to halve Russian gas consumption."

The Prime Minister also discussed talks with Shell, ExxonMobil, Chevron in respect of plans for Ukraine to increase the volume of own gas.

"With all of these companies we have already prepared the relevant agreements. We have carefully studied the experience of the U.S. on shale gas production, and we expect that shale deposits in the future will allow us to produce 10 to 20 billion cubic meters of gas."