Ukraine plans to intensify efforts to produce its own oil and gas, President Viktor Yanukovych said during a meeting with American businessmen in New York.

"Ukraine will greatly intensify the effort to develop oil and gas at home, and create the conditions for that of European standards," he said, ForUm learned in the presidential press office.

The President added that all the steps necessary to settle this issue at the legislative level would be taken.

Yanukovych also mentioned Ukraine's plans to develop alternative energy production actively. "This market is really big and presents great opportunities," the President said, adding that restoring the existing hydropower plants could serve as an example of that.

The President also drew attention to the considerable potential of wind power development in Ukraine. He added that some wind power stations are already in the process of construction.

Viktor Yanukovych added that Ukraine has already begun building solar power plants and has adopted the relevant legislation.

In addition, the President said, it was decided modernize and develop electricity supply systems with considerable public funds being invested into that.

The President drew special attention to Ukraine’s outstanding capabilities as electricity exporter. "The exports are growing year after year. This market is very promising," Viktor Yanukovych said.

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