Ukrainian Energy Minister: Our gas reserves will last for 50 years

Ukraine has gas reserves of 1 trillion cubic meters that could last for 50 years if sustainable production is maintained, according to the Ukrainian Minister of Energy and Coal Industry, Vladimir Demchyshyn, as quoted by Ukrinform.

"Our reserves are 1 trillion cubic meters. We extract 20 billion. We have enough gas for at least 50 years," he said. By Demchyshyn’s estimate, Ukraine lagged in developing Ukrainian gas extraction in the last 20 years.

"We buy at least 15 billion cubic meters of gas from Europe or from Russia. This is 3.5 billion dollars that we give to Europeans or Russians instead of funding our own production," Demchyshyn said.

  Ukraine, Gas