According to the electronic public procurement system “Prozorro”, the expected cost of purchasing the service is UAH 1.162 million. The deadline for submitting bids is February 16.
insurance State enterprise NAEK Energoatom (Kyiv) announced a tender for compulsory insurance of motor civil liability of owners of land vehicles (MTPL) on February 12.
According to the electronic public procurement system Prozorro, the total expected cost is UAH 1.029 million. The deadline for submitting tender documents is February 21.
Ukrnafta PJSC, which with the help of the European Bank for Reconstruction and Development (EBRD) has planned projects to generate power from its own gas with a total capacity of up to 370 MW, is additionally working to attract investment to build renewable energy capacity such as solar and wind, said supervisory board chairman Duncan Nightingale.
“We want to introduce about 200 MW of renewable energy over the next two years,” he said in a blitzing interview with Interfax-Ukraine.
Nightingale recalled that, according to agreements with the EBRD, in addition to loan funds, the bank is providing the company with grant support worth several tens of millions of euros.
“All these funds will be used for the construction of gas generation. At the first stage we plan to build about 375 MW of new gas to power capacities,” the chairman of the Supervisory Board specified.
According to him, initially Ukrnafta’s plan until 2028 provides for the introduction of about 1 GW of new electricity and heat generation, as well as storages (for energy storage – IF-U), which will require significant investments.
“We plan to attract funds from current donors, national and international banks, and investors. The main task is to direct the company’s funds to the main activities to increase hydrocarbon production, and energy projects should be self-sufficient, including the attraction of financing,” Nightingale emphasized.
He thanked investors who are now supporting Ukrnafta on the way to building gas generation.
“Ukrnafta realizes the importance of traditional energy sources, especially under the conditions of martial law. At the same time, we use gas as a transition fuel for power generation. This allows us to work on environmentally sustainable solutions for the future,” summarized the Chairman of the Supervisory Board.
“Ukrnafta is Ukraine’s largest oil producer and is the operator of the national network of gas stations. In March 2024, the company entered into Glusco asset management and operates a total of 544 filling stations – 461 owned and 83 under management.
Ukrnafta’s largest shareholder is Naftogaz of Ukraine with a 50%+1 share stake. In November 2022, the Supreme Commander-in-Chief of the AFU decided to transfer to the state a share of corporate rights of the company, which belonged to private owners and is now managed by the Ministry of Defense.
Read the full blitzinterview with PJSC Ukrnafta Supervisory Board Chairman Duncan Nightingale on the sidelines of the Ukrainian House in Davos soon on the agency’s website www.interfax.com.ua.
On February 11, the state enterprise “NAEK Energoatom” (Kiev) announced its intention to conclude with IC “VUSO” the contract of compulsory insurance of motor liability of owners of land vehicles (MTPL).
As reported in the system of electronic public procurement Prozorro, the price offer of IC “VUSO” amounted to UAH 559.534 thousand at an expected cost of UAH 1.591 million.
IC “European Insurance Alliance” with the offer of UAH 559,535 mln and IC “Guardian” – UAH 970,8 th. are also participating in the tender.
IC “VUSO” was founded in 2001. The company owns 50 licenses: 34 – for voluntary and 16 – for compulsory types of insurance, is represented in all regions of Ukraine. It is a member of the Motor (Transport) Insurance Bureau of Ukraine (MTSBU), the League of Insurance Organizations of Ukraine and a member of the Nuclear Insurance Pool.
Adoption of the bill “On the system of insurance of military risks” No. 12372 in its current form will cause a number of negative consequences, believes Vyacheslav Chernyakhovsky, Director General of the Association “Insurance Business” (ASB). The head of the ASB raises the question of the expediency of creating a State Agency for Insurance of Military Risks, since a significant part of its functions has long been performed by insurance companies, which have successfully started to implement new programs of such insurance since mid-2022.
In particular, in his opinion, the bill does not allow all willing entrepreneurs and citizens to take advantage of such a state program, increases the costs of the deficit state budget for a contribution to the statutory fund of the State Agency for War Risks Insurance (from 8 billion UAH). It also implies high costs to support the Agency’s activities, as its work requires a large number of employees and structural subdivisions like a full-fledged insurance company. In addition, insurance or reinsurance contracts in the system of insurance of military risks may be concluded directly with the participation of insurance intermediaries (they may be insurance agents, in particular banks).
Also controversial provisions of the draft law, in his opinion, are the limited range of objects, namely, property pledged/mortgaged to banks during the entire term of the contract and housing construction objects during the entire period of new construction, reconstruction, major repairs. And limitation of territories where military risks can be insured. At the same time, the possibility of automatic termination of the current insurance contract is provided for objects, the location of which was located in the territory of high risk.
According to Vyacheslav Chernyakhovsky, some norms of the draft law do not comply with international practices in terms of insurance: “Firstly, the compulsory insurance of property without the consent of their owners is an atypical approach. Usually the owner independently disposes of it, including in matters of insurance coverage. Such insurance is applied only in some countries and only in the most dangerous regions (for example, earthquake insurance in Turkey). Secondly, the state usually provides assistance in insurance of catastrophic risks by means of special reinsurance on favorable conditions of insurance rates reduction. An example is the American flood insurance program,” he notes.
According to Chernyakhovsky, the ASB proposes other approaches to expanding the system of insurance of military risks, namely: the creation and implementation of a program of partial subsidizing by the state of voluntary insurance of military risks with the possibility of access of all enterprises and citizens to such a mechanism. Instead of creating a State Agency, the Export Credit Agency, which has such a right under its charter, could be obliged to reinsure military risks to be transferred to insurance companies under predetermined conditions and rules.
The US wants to trade further military and financial aid to Ukraine for access to the country’s vast rare earth reserves. But some might already be under Russian control, and the EU is moving in for its share, too.
US President Donald Trump has placed new conditions on further financial and military aid to Ukraine.
On Monday, he told reporters that Washington would only continue aiding Ukraine in warding off Russian aggression in exchange for rare earth minerals.
Kyiv had already indicated it would be willing to trade access to these valuable natural resources for Western support. In fact, it was one of the points Ukrainian President Volodymyr Zelenskyy had outlined in the “victory plan” that he presented late last year when it was still unclear who would occupy the White House in 2025.
At the time, Zelenskyy had been in talks with Trump, and had promised any country willing to support Kyiv that there would be “returns on investments” made in his country. While presenting his plan, he also mentioned Ukraine’s rich natural resources, which amounted to “trillions of US dollars’ worth of vitally important metals.”
Indispensable in modern industries
Rare earth minerals are needed to produce many modern devices, such as smartphones, electric vehicles, and other high-tech products. They are indispensable in weapons manufacturing and the aerospace industry.
China currently controls the lion’s share of industrially used rare earth minerals worldwide. According to a recent report
by the World Economic Forum, this covers about 40% of the European Union’s (EU) needs for these resources. Other key providers include Australia, South Africa, Canada and Brazil.
To reduce their dependency on China, the US and EU have been working together for years on expanding and increasing the production of vital resources in other countries. These metals, include, above all, uranium, titanium, lithium, graphite, nickel, and aluminum.
Last year, a study
by the NATO Energy Security Center of Excellence found that the market for critical minerals “has doubled to over $320 billion [€308.7 billion] in the last five years and is foreseen to double again in the next five.”
Enormous wealth of critical minerals
The NATO experts also noted that “the strategic importance of Ukraine’s critical materials cannot be overstated,” arguing that the country could become a key supplier of rare earth minerals, including titanium, lithium, beryllium, manganese, gallium, uranium, zirconium, graphite, apatite, fluorite and nickel. These vast reserves could “significantly contribute to the global supply chain for many, if not all,” prominent industries.
Ukraine’s titanium reserves are thought to be Europe’s largest, making some 7% of global reserves. It’s one of the few countries mining titanium, which is a key resource for the aerospace, medical, automotive and marine industries, for example.
Estimated at around 500,000 tons, Ukraine also holds some of Europe’s largest known lithium reserves. This material is critical for producing batteries, ceramics, and glass.
Ukraine is also the world’s fifth-largest producer of gallium, which is used for producing semiconductors and light-emitting diodes (LEDs). Finally, Ukraine is a critical supplier of neon gas, required for producing semiconductors.
The World Economic Forum report further found that the European Commission had identified Ukraine as a potential supplier for over 20 critical raw materials. The body recommended that Europe continue to encourage Ukraine to export these materials, and concluded that Ukraine’s accession to the EU could strengthen the European economy.
Ukraine an important part of the EU resource strategy
Kyiv seems to be well aware of its key position as a potential global supplier of critical minerals needed for key industries. At a conference on strategic resources, the former Ukrainian infrastructure minister an co-founder of the investment think tank We Build Ukraine, Oleksandr Kubrakov, noted that, “we own crucial resources, we are strategically well-positioned within the EU context, our logistical infrastructure is well-developed and we are highly competent in discovering and exploiting resources.”
But critics say that optimal conditions for mining critical minerals would require governmental oversight, a stable regulatory framework, an economically tolerable tax policy, and investments. It’s uncertain if the US, should it gain access to some of Ukraine’s critical natural resources, would even be able to initiate such structural change.
Meanwhile, authorities in Kyiv are already reporting on first steps and concrete plans: “We are currently making data on these minerals public and have worked out many regulatory and legal measures,” Olena Kramarenko, Ukraine’s deputy minister of environmental protection said.
She added that the strategic goal was to “integrate Ukraine into the EU’s resource strategy.”
Some reserves occupied by Russia
The largest hurdle to exploiting rare earth minerals in Ukraine remains Russia’s war of aggression. There are no reliable numbers available of just how many rare mineral reserves are under Russian control, or dangerously near front lines.
Ukrainian experts told DW they believe that Russia could be trying to gain control over at least two lithium reserves. Of the four known across Ukraine, only two are sure to be under Ukrainian control.
The territories of Zaporizhzhia and Donetsk, where the other two reserves are located, are currently under Russian occupation.
https://www.dw.com/en/ukraines-rare-earths-are-key-to-its-bargaining-power/a-71531476
