Reuters: Ukraine queries shale deals as Yanukovich era under scrutiny

|By:, SA News Editor

Commercial deals concluded by Ukraine during the presidency of ousted Viktor Yanukovich are coming under scrutiny, with lucrative gas projects involving Western companies among the first, Reuters reports.

Some Ukrainian lawmakers have called for the new government to examine how, without significant financial outlay, a small Kiev-based consultancy founded by three former employees of state energy company Naftogaz received interests in shale gas projects led by Shell (RDS.A, RDS.B) and Chevron (CVX) worth hundreds of millions of dollars.

Shell and Chevron came in to the ventures in 2013, promising to spend hundreds of millions of dollars on exploration in return for their stakes.