ERBD Pledges Support for Ukrainian Unconventional Hydrocarbon Development

The European Bank for Reconstruction and Development has said that it is prepared to assist Ukraine in establishing production from its vast deposits of biogas, coal bed methane, and shale gas.

The bank's experts are studying proposed projects for the organization of production from land and sea (offshore) fields.

Managing Director for Energy and Natural Resources at the EBRD, Riccardo Puliti, has said he believes that Ukraine's key problem is its dependence on energy imports from one source.

Puliti also added that the EBRD would not finance the exploration of energy resources.

"We do not finance exploration. We work only with proven reserves. And there are a lot of them in Ukraine," he said.

Source: NRCU