Gearing up for IPO, Naftogaz to invest $7 billion in gas exploration

State-owned energy firm Naftogaz plans to invest $7.3 billion in upstream gas production by 2025 as it readies itself for an initial public offering, according to the company’s strategy document.

Naftogaz, which is Ukraine’s leading gas producer, aims to invest even more in gas exploration in the future, after it starts to be publicly traded on one of the major stock exchanges. Its ambition is to pour $25 billion in gas exploration by 2030.