Ukraine took a step closer to a breakthrough shale gas deal with global energy major Royal Dutch Shell on Wednesday when local authorities in the eastern Donetsk region approved a planned production sharing agreement.
The former Soviet republic, which hopes its big shale gas reserves will help end reliance on costly imports of Russian natural gas, chose Shell last May as a partner to develop the Yuzivska shale gas field.
Deputies of the Donetsk regional council voted to approve the deal with Shell, removing one of the final hurdles to an agreement.
Ukraine is said to have Europe\'s third-largest shale gas reserves at 42 trillion cubic feet (1.2 trillion cubic metres) behind those of France and Norway, according to the US Energy Information Administration.
The former Soviet republic, which hopes its big shale gas reserves will help end reliance on costly imports of Russian natural gas, chose Shell last May as a partner to develop the Yuzivska shale gas field.
Deputies of the Donetsk regional council voted to approve the deal with Shell, removing one of the final hurdles to an agreement.
Ukraine is said to have Europe\'s third-largest shale gas reserves at 42 trillion cubic feet (1.2 trillion cubic metres) behind those of France and Norway, according to the US Energy Information Administration.