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Carlos Pascual: Ukraine has a potential to produce more gas

Kyiv, March, 21st, 2014 – State department Energy Envoy Carlos Pascual claimed that Ukraine is a country with huge resources, high energy potential and ability to produce more gas.

According to Mr. Pascual, another crucial issue is the diversification of supplies. Today Ukraine has an opportunity to import gas via reverse flows from its neighbors – Poland and Hungary, using supplies that originate from Central Europe. Since Mar 20 European delegation has been working with Ukrainian counterparts and discussing what kind of measures should be taken to ensure that these flows can work.

The Ambassador also stated it is important that Ukraine continue to work on energy efficiency: “It is critical that people pay less for the energy they consume. This is a long term of transition that needs careful and calibrated work and requires investment from the private sector, but that’s now a part of agenda and we try to focus on that to bring to Ukraine the energy security that it deserves”.

Commenting on possible cut of gas supply from Russia, Mr. Pascual said they hope Russia will adhere to and will see its commercial interest to be seen as a reliable gas supplier. At the same time diversification of supplies is good advice to everyone, since it creates competition, and LNG supplies coming to the market is creating a future competitive energy market diminishing the power of any single country.

Ambassador Carlos Pascual is the State Department’s Special Envoy and Coordinator for International Energy Affairs. Secretary Clinton appointed Ambassador Pascual to this position, effective May 18, 2011. In this capacity, he advises the Secretary on energy issues, ensuring that energy security is advanced at all levels of U.S. foreign policy.

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