The price of natural gas in Ukraine this summer can drop to $80 per 1,000 cubic meters, and such a price reduction can negatively affect gas production in Ukraine, Minister of Energy and Environmental Protection Oleksiy Orzhel has said.
He said this during a roundtable meeting entitled "Ukraine's Green Energy Transition: A Vision until 2050 and Next Steps," according to an Ukrinform correspondent.
"This summer, we are expecting an $80 price for gas. This means that it will be very difficult to make decisions to invest in any production. Many say that in this market downturn, we need to invest. At the same time, many companies have frozen their investment projects," the minister said.
He also mentioned other factors that could affect domestic gas production, in particular, a reduction in consumption and the introduction of taxes on carbon content.
"With all the desire to support and increase domestic production, such scenarios will reduce investor interest. I think the activity may stop," Orzhel said. (February 25, 2020)
UKRAINE - LPG - PRICE