Ukraine outlines energy strategy for 2014

Ukrainian President Viktor Yanukovych and Energy and Coal Industry Minister Eduard Stavytsky on Tuesday have approved a strategy to develop the country's energy sector in 2014. "We have discussed the strategic development of the energy industry in 2014, in particular, the construction of new facilities," Stavytsky told reporters after the meeting with Yanukovych. Stavytsky said that under the latest plan, Ukraine this year will start construction of coal gasification plants in eastern Donetsk region and pump-storage power station in central Cherkassy region. In 2014, the government will also focus on the reduction of gas tariffs for industrial enterprises and public organizations, Stavytsky said. On Jan. 9, Russian gas monopoly Gazprom lowered the price of natural gas to Ukraine by one-third to 268.5 U.S. dollars per 1, 000 cubic meters. Ukraine, which has long heavily relied on gas imports from Russia, in recent years, has stepped up its efforts to diversify energy sources. According to the country's energy strategy for 2013-2030, Ukraine will increase the share of coal in its energy mix and develop unconventional gas production in a bid to promote energy independence.