Private companies to increase gas extraction by 1 bln cubic m after the reduction of rent- Demchishin

​Private gas extraction companies hope to increase gas extraction in the Ukraine by 1 bln cubic m within 2 years in case the Supreme Rada decreases the rental payment, the Minister of Energy and Coal Industry of the Ukraine, V, Demchishin, said.

“2 weeks ago I met with the main participants of the market which produce about 3 bln cubic m of gas a year and they showed their readiness to increase extraction within 2 years by 1 bln cubic m”, he said.

After the reduction of rental payments by the Government should show that such conditions will exist for a long time.

Demchishin also said that he stands for the return of VAT at the import of equipment for drilling and development of wells.