Eni Expects to Start Shale Exploration in Ukraine Next Summer

Italy’s Eni expects to proceed with shale gas exploration in Ukraine next summer, eyeing opportunities stemming from the fourth largest reserves in the world.

“We are looking for opportunities to ensure energy independence of our country, and the projected reserves of shale gas in Ukraine are the fourth largest in the world,” said Borys Klymchuk, Governor of the Volyn region. 

According to the Volyn regional administration announcement, Eni expects to begin explorations in the region between June and August 2014. The note was released after region’s authorities met representatives of the Zakhidgazinvest on Thursday.

Eni acquired a majority stake in the Zakhidgazinvest in June 2012, with parallel investments in other Ukrainian companies. 

Ukraine's government is keen to produce locally to ease dependence on Russia. Ukraine also continues to make ambitious plans to decrease national energy consumption, switch its power stations from natural gas to coal, build an LNG terminal, and open reverse flows of gas from Europe.