DAVOS, Jan. 28 – Shell oil will soon start work on the production of shale gas in Ukraine, President Viktor Yanukovych said.

"I praise your decision to finally start the production of shale gas in Ukraine," the Ukrainian president said at a meeting with Shell CEO Peter Voser in Davos on Friday.

At the same time, Yanukovych noted that the problems that existed between Shell and the Ukrainian Ukrgazvydobuvannia Company, in particular, court trials, had already been resolved, and "misunderstandings" with the Ukrainian Tax Administration had been cleared up.