Kyiv Post: Ukraine inches closer to signing second shale gas exploration agreement

Ukraine has inched closer to signing a product sharing agreement with American giant Chevron after the local city councils of Lviv and Ivano-Frankivsk in western Ukraine received the deal's final text and set tentative voting dates for its approval, Energy Minister Eduard Stavitsky said on June 13.

The finalized version of the product sharing agreement with Chevron was handed over to regional authorities on June 12.

The local councils convene on June 18 and 21, and might consider voting for the agreement on these dates. Their vote is the last stage of approval before it can be signed by central government officials and Chevron, who will form a joint venture to explore gas from shale in Oleska field in western Ukraine.

Ukraine held two international tenders in 2012 for exploration of shale gas, and one for exploration of natural gas offshore, which were won by international giants Royal Dutch Shell, Chevron and ExxonMobil.  MORE