Business news from Ukraine

Japan acquires large-sized equipment for Ukraine as part of support for energy sector

Japan has purchased large-sized equipment for Ukraine with a total capacity of about 200 MW, including 5 gas turbines and 7 large transformers, as part of its support for the energy sector.

The announcement was made during a meeting in Kyiv on Sunday between Ukrainian Energy Minister Herman Galushchenko and Japanese Foreign Minister Yoko Kamikawa. The equipment was purchased and delivered by the Japanese government in cooperation with UNDP and the Japanese International Cooperation Agency Jica.

“This is very important equipment. Some of it is still on the way, but two autotransformers have already been installed, and now we are talking about two more similar ones, as well as five gas turbine units and seven large transformers. We are talking about decentralization of the power system and an additional 200 MW of capacity,” Galushchenko said at a briefing after the meeting.

According to him, the equipment provided by Japan will be distributed throughout the country.

“This fully coincides with the goals of our national energy strategy aimed at decentralizing the energy sector,” the minister added.

In her speech, Yoko Kamikawa categorically condemned Russia’s ongoing attacks on civilian objects and the population and assured of full support for Ukraine.

“It is very important to support Ukrainians to protect them this winter. The equipment that Ukraine receives from us will benefit about 5 million of its citizens,” she said.

, ,

Ukraine and Bulgaria to cooperate in energy sector

A memorandum of understanding between the Ukrainian and Bulgarian energy ministries on cooperation in the energy sector was signed in the presence of Zelensky and Bulgarian Prime Minister Nikolo Denkov during an official visit of Ukrainian President Volodymyr Zelensky to Bulgaria.
According to the press service of the Ukrainian head of state, the document was signed by Ukrainian Energy Minister Herman Galushchenko and Bulgarian Energy Minister Rumen Radev.
“The memorandum is aimed at creating framework conditions for deepening cooperation in the energy sector of Ukraine and Bulgaria based on the principle of mutual benefit and taking into account common interests and goals of both countries,” the statement said.
Ukraine and Bulgaria undertook to provide affordable energy, as well as to support industrial and regional development, security and prosperity of their peoples, expand cooperation and a shared commitment to protect the environment and mitigate climate change and reduce carbon emissions.
It was noted that taking into account Ukraine’s status as a candidate for EU membership and Bulgaria’s obligations as a EU member state, the sides agreed to intensify further mutually beneficial cooperation in the field of nuclear energy, green energy, hydrogen, as well as energy storage systems and smart grids.
Sharing knowledge and experience to protect energy infrastructure from physical, electromagnetic, and cyber threats is a priority in the cooperation.
As reported, Bulgarian parliamentarians by a majority vote delegated the country’s Energy Minister to negotiate with his Ukrainian counterpart on the possibility of selling equipment intended for Belene NPP to Kiev, Bulgarian National Radio (BNR) reported Thursday.
The decision was supported by 135 deputies, while 57 opposed.
Earlier, BNR reported that Ukraine had expressed interest in purchasing the reactors intended for Belene NPP.
Bulgaria abandoned the project in 2012.

, ,

Zelenskyy: it is necessary to work on decentralization of energy sector

Ukraine needs to strengthen protection of energy facilities before the next heating season and carry out work to decentralize the energy sector, Ukrainian President Volodymyr Zelensky said in a video address on Sunday.
“We are working through all scenarios and will do everything to approach the next winter ready for any threat. In six months, our power engineers, officials, the security and defense sector and everyone involved in the relevant tasks must do absolutely specific things,” he said.
According to the president, it is necessary “to strengthen the protection of power facilities, to restore the infrastructure that has been destroyed by Russian strikes in the past six months, to give more opportunities to our people under the power system decentralization project, so that people can generate and supply electricity on their private territory, on their private facilities. This is a big job; it has already begun.

, ,

European Commission will announce measures to solve problems in energy sector today

Member of the European Commission (EC) for Energy Kadri Simson said that on Wednesday, September 14, the EC proposal to address a number of problems that have arisen in the EU energy market will be made public.
“Tomorrow we will submit a proposal that aims to eliminate these problems,” the European Commissioner said on Tuesday, speaking at the plenary session of the European Parliament in Strasbourg.
Among the measures, she, in particular, named a reduction in demand for electricity, limiting the income of energy companies that produce electricity at low costs, contributions from companies that receive excess profits for the production of gas, oil and coal.
Referring to Russian gas imports, Simson noted that a “ceiling” on Russian gas would solve the problem of price speculation. However, more work is needed to assess the risk of a possible negative impact of such a measure on some EU Member States. In addition, the European Commission will continue to analyze how a price cap on all gas imports could function and what the consequences would be.


President Zelensky said that Ukraine plans to help Poland in energy sector

President of Ukraine Volodymyr Zelensky said that Ukraine will look for opportunities to help Poland in the energy sector and find a way out of their future energy risks in the near future.
“Today we raised important energy issues. We discussed energy challenges. We are interested that Ukraine can help Poland. We are doing everything to find a way out of their future energy risks in the near future,” Zelensky said at a press conference with Polish Prime Minister Mateusz Moravetsky and Latvian President Egils Levits in Kyiv on Friday.
He also called this issue a priority in relations with Poland.
“For us, this is a priority in our relations. Despite the fact that we have a ban on the export of coal during this difficult period, we will look for an opportunity to help Poland. Because Poland, in spite of everything, found certain steps to help us, when it was not easy for her. We understand this responsibility,” the President added.

, , ,


U.S. Chargé d’Affaires Kristina Kvien during an online meeting with Acting Energy Minister Yuriy Vitrenko confirmed the U.S. intentions to help reform the energy sector in Ukraine, the U.S. Embassy in Ukraine said.
“Constructive meeting with acting Minister of Energy Vitrenko yesterday, where CDA Kvien reaffirmed the U.S. commitment to helping Ukraine succeed in transforming and modernizing its energy sector,” the embassy said on Facebook on Wednesday.
As reported, at the end of December 2020, acting Energy Minister Yuriy Vitrenko met with Head of the International Monetary Fund (IMF) mission Ivanna Vladkova-Hollar. The key issues of the meeting were reforms in the energy sector, financial stability of energy markets and further development of energy industries.
According to government sources, the mission’s interest in the energy sector is caused by the sharp increase in the energy market deficit in recent years, which is proposed to be covered, in particular, by the budget or government guarantees.