What does the Government plan to do to increase gas production? (infographics)

In October, the Government updated its Action Plan to implement the Concept for the Development of Ukraine’s Gas Extractive Industry by 2020. The updated Action Plan aims to increase the transparency of the gas industry and improve the quality of its regulation.Among other things, the updated Action Plan provides for:- Transition to an electronic format for the exchange of information between mining companies and authorities;

– Creation of a portal with access to information about Ukrainian resources;

– Improvement of the tariff policy on services of the operator of the gas transmission network;

– Activation of open auctions for the sale of special permits and the introduction of an electronic payment system for them using a digital signature;

– Development of a new revision of the Code on the Subsoil;

– Reforming the Public Service of Geology and Subsoil of Ukraine (State Geonadra);

– The introduction of a motivating fiscal regime (5% of rent for the extraction of hydrocarbons from non-traditional clusters), and much more.