17.03.03

Naftohaz Ukrayiny to increase gas exports 500% in 2003

Ukraine's Naftohaz Ukrayiny plans to export over 6 billion cubic meters of natural gas in 2003, which is 500% more than in 2002, company CEO Yuri Boiko said at a press conference.

Naftohaz Ukrayiny exported over 1 bcm of gas in 2002.

Boiko also said that the company has signed a contract with Russia's Gazexport to export 5 bcm of gas in 2003. In addition, the company will independently export about 1.5 bcm of gas under three contracts with European companies.

Naftohaz Ukrayiny increased gas production 0.7% year-on-year in 2002 to 17.786 bcm. The company plans to produce 17.715 bcm of gas in 2003.

According to the Ukrainian State Statistics Committee, gas production in Ukraine in 2002 increased 1.3% year-on-year to 18.442 bcm from 18.2 bcm in 2001.