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Ukraine gas deal with Russia will not affect shale gas agreements

Reuters - UK Focus

KIEV, Dec 18 (Reuters) - A deal for cheaper Russian gas agreed between Russia's Gazprom (MCX: GAZP.ME - news) and Ukraine's Naftogaz will not affect agreements between Kiev and Western energy companies for shale gas exploration, Ukraine's energy minister said on Wednesday.

"The agreement with Gazprom in no way will weigh on the realisation of the projects with Shell (LSE: RDSB.L - news) and Chevron (Berlin: CHV.BE - news) ," Eduard Stavytsky told journalists.

Russia and Ukraine on Tuesday reached agreement on a $15 billion aid package which includes lowering the price for Russian gas deliveries to Ukraine by about a third.

Earlier this year, the Kiev government signed separate agreements with Royal Dutch Shell (Xetra: R6C2.DE - news) and U.S. energy major Chevron on exploring for shale gas in Ukraine as part of moves to secure greater energy independence from Russia.