Ukraine Signs $10B Gas Deal With Chevron

Law360, New York (November 5, 2013, 2:10 PM EST) -- The government of Ukraine has signed a $10 billion deal with Chevron to develop and share production on the country's Olesska shale field, the Ukrainian president's office announced Tuesday.

Similar to a January agreement with Royal Dutch Shell, the deal is part of Ukraine's attempt to become less energy-dependent on Russia, whose natural gas keeps many Ukrainian lights on. Tensions with Moscow led to cutoffs in 2006 and 2009, affecting a large part of Europe, which gets Russian natural gas piped in through Ukraine.

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