Ukraine has great potential to increase its energy security

2 March 2012

Ukraine has great potential to increase its energy security, says IEA Director of Global Energy Dialogue Ulrich Benterbusch, as he and Graham White, Team Leader for the forthcoming IEA review of Ukraine’s energy policies, met with Ukraine’s Minister of Energy, Yuri Boyko, on 28 February in Kiev. 

Mr. Benterbusch welcomed Ukraine’s strong political commitment to develop conventional and unconventional gas resources. He also noted the country’s awareness of important reform and investments needs, their scope and the need to co-operate with the private sector and external players, such as the European Union. Ukraine has shown progress through new legislation on the energy sector and a commitment to implementing the EU Energy Community Treaty, especially the second energy package.

Mr. Benterbusch said that Ukraine has great potential to increase its energy security, create jobs, foster economic growth and modernise its energy infrastructure by focusing on five priority areas: developing a comprehensive energy strategy; improving energy efficiency and district heating; increasing production of oil and gas; re-structuring the energy sector and introducing fair, predictable and competitive legislation; and promoting more private and foreign investments into the energy sector.