Achieving energy independence is an important priority for the Government, as Ukraine has a huge potential for increasing gas production and efficient use of infrastructure.

This was stated on October 23 by the Prime Minister of Ukraine Denys Shmyhal during a meeting with members of the Interdepartmental Commission for the Organization of the Conclusion and Implementation of Production Sharing Agreements and investors - winners of tenders for product sharing agreements.

Denys Shmyhal assured investors that the Government understands that price trends on the world market had changed since their participation in tenders.

"The Government assures that the Ukrainian energy market remains attractive in the near future and is creating sufficient demand for new gas production and exploration," the Prime Minister said.

According to Denys Shmyhal, production sharing agreements are a tool for leveraging significant investment in the national oil and gas industry. The interdepartmental commission and investors have done a lot of work to develop their projects.

"Significant progress has been made during the last stage. Our common objective is to speed up their signing," said Denys Shmyhal.

According to the Prime Minister, the Government is interested and focused not only on concluding production sharing agreements but their successful implementation as well.

"The signing of these agreements will be an example of improving the investment climate in Ukraine and will be another important step towards achieving energy independence of the state," stressed the Prime Minister.

On the outcomes of the meeting, the Prime Minister commissioned the Ministry of Energy, the Ministry of Justice, the Ministry of Finance, the Ministry of Ecology and Natural Resources and the Ministry of Economic Development, Trade and Agriculture to intensify the work on concluding relevant agreements.