KHARKIV, July 25 – Shell is studying opportunities to extract shale gas in Izium district (Kharkiv region), said Yuriy Sapronov deputy head of Kharkiv Regional State Administration.

Sapronov noted that the region's administration is also interested in attracting a large company with an international name to the region.

"According to the United States Geological Survey, there are five to eight trillion cubic meters of shale gas in Ukraine. Certainly, Shell is strategically important for us. Today, I cannot name the exact sum of investment, but we are speaking about not less than $1 billion. If Shell starts exploratory drilling this year, the project's implementation will take from three to five years," Sapronov said during a press conference.