Ukraine is gradually integrating into European energy markets: Ministry of Energy calls on business to make new investments in energy
Kyiv • UNN
The Ministry of Energy discussed the importance of involving business in the processes of restoring and strengthening the energy sector, building energy infrastructure, and integrating Ukrainian energy markets into European ones.
The Ministry of Energy organized a meeting with international partners to discuss the integration of Ukrainian energy markets into European ones, which is a component of the country's energy sector development. This is reported by UNN with reference to the press service of the Ministry of Energy.
Details
The meeting was attended by 90 representatives of companies and foreign diplomats. The Ukrainian side was represented by Deputy Energy Ministers Svitlana Hrynchuk, Yaroslav Demchenkov, and Mykola Kolisnyk.
The participants discussed the importance of involving business in the processes of restoring and strengthening the energy sector, building energy infrastructure, and implementing new strategies and objectives based on European and global practices.
In particular , Yaroslav Demchenkov drew attention to the intensification of international business cooperation in the energy sector even during the war.
According to him, this is facilitated by the synchronization of the Ukrainian energy system with the European ENTSO-E, the continued integration of energy markets in the pan-European context, and legislative changes.
Energy markets are being integrated into pan-European ones, becoming more predictable and understandable for investors. (...) The Ministry of Energy is currently actively working on the implementation of the EU's fourth energy package into national legislation. This will further develop the use of renewable energy sources, increase flexibility and stability in the electricity market
In addition, Mykola Kolisnyk noted that Ukraine can offer a significant investment advantage in the form of cheaper megawatts and cubic meters, which is the main cost component.
He also emphasized the prospects for development and investment in the gas industry in the context of European integration processes.
In Europe, sanctions have caused a certain imbalance in the gas market, and businesses have started to choose the most competitive environments. For Ukraine, which has its own production and storage facilities, this is a favorable situation
The ministry emphasized that the Ministry of Energy is interested in increasing the presence of Ukrainian companies in the EU energy markets and is open to cooperation, providing expert and other support to achieve the relevant objectives.
Recall
The Energy Ministry stated that Ukraine is actively integrating its energy markets into the European ones, focusing on the development of renewable energy, attracting investments and implementing EU energy legislation to increase the flexibility and stability of the electricity market.
