KIEV, Dec. 25 – Private gas producing companies consider the government's initiative to introduce increased royalties for gas production by private firms in 2015, fixed at 55% and 20% depending on the depth of gas wells, to be extremely dangerous.

"The proposed bill (bill No. 1578) introducing increased royalties, fixed at 55% and 20% for 2015, for the use of subsoil to produce natural gas threatens not only the development of the country's oil and gas industry, but also its very existence," reads the gas companies' open letter to Ukrainian lawmakers.