He said: “We have a number of resources and gas reserves there that are basically the second largest in Europe. There is exploration potential there and also export potential there. We estimate there could be up to 40 billion cubic metres [of gas].
“There is a lot of potentials there, but it won’t come online until the second half of this decade.”
Mr Wasylyk added that the reserves, once tapped, would “absolutely” meet the needs of Ukraine’s European neighbours. As it looks to become an EU member, it may yet prove itself to be essential to the bloc’s economy.
Naftogaz has reportedly identified large gas reserves in various places, including the Dnipro-Donets rift that splits the country between east and west.