Ukraine eyes more shale gas deposits

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KIEV, Ukraine, Oct. 4 (UPI) -- Producing unconventional gas reserves like shale might serve as an alternative to natural gas from Russia, the Ukrainian prime minister said.

Ukrainian Energy Minister Yuri Boiko met in Kiev with Moldova's Minster of Economy Valeri Lazar to discuss shale gas reserves straddling their shared border.

Boiko said Moldova could be able to exploit the shale reserves with the help of experts from Ukraine, the National News Agency of Ukraine reports.

Both sides, he added, were focused on developing a memorandum of understanding on energy issues next week.

Ukraine has some of the richest deposits of shale gas in Europe. Boiko in September said his country's energy strategies should focus more on developing domestic resources.

Ukrainian Prime Minister Mykola Azarov said the production of unconventional gas reserves like shale could serve as an alternative to traditional gas from Russia.

Kiev has been lobbying Russian gas company Gazprom for better prices. Gazprom in 2009 cut off gas supplies to Ukraine for several weeks because of disputes over contracts and debt.

The U.S. Energy Information Agency ranks Ukraine fourth in Europe in terms of shale gas deposits with 42 trillion cubic feet of reserves.