The Ukrainian Ministry of Energy and Qatar Petroleum, a state-owned oil and gas company in Qatar, have signed a Memorandum of Understanding on energy cooperation. On behalf of Ukraine, the document was signed by the acting Energy Minister Yurii Vitrenko, from Qatar – President and General Director of Qatar Petroleum, Minister of State for Energy Saad ibn Sherida Al-Kaabi, the press service of the Ministry says.
It is noted that the states intend to develop cooperation, in particular, in the areas of investment from Qatar in the exploration and production of gas in Ukraine, as well as gas supplies (LNG – liquefied natural gas) from Qatar to Ukraine.
“Cooperation in the oil and gas sector of Ukraine and Qatar is promising and important for our country. Qatar is one of the largest gas producers in the world and has the valuable experience and significant financial resources to invest in gas exploration and production in Ukraine. An increase in own gas production, diversification of gas supply sources corresponds to the interests of gas consumers in Ukraine and will contribute to sustainable economic development and strengthening of Ukraine's energy security,” said Yurii Vitrenko, who is now on a visit to the capital of Qatar, Doha, as part of a Ukrainian delegation headed by the President of Ukraine.
The memorandum will be valid for three years and can be automatically renewed for the same period.
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