JKX Signs Ukraine Gas Deal With Shell

LONDON, UK -- Explorer JKX Oil & Gas Plc said on Tuesday it had agreed to sell at least 8.75 billion cubic feet of gas over 12 months to a Royal Dutch Shell Plc unit in Ukraine.

The company, which also has assets in nearby Georgia and Russia and in Italy, said supplies would start this month following an initial delivery in August.

JKX said a statement that the gas sales pact had provisions to raise the amount of gas delivered and the time period allowed.

The agreement was made between JKX's wholly owned Ukranian arm, Poltava Petroleum Company, and Shell Energy Ukraine, the firm said.

Source: Reuters