NNEGC Energoatom and Korean Hyundai Engineering and Construction Co., Ltd. (HDEC) have signed a memorandum of cooperation on the design, construction and commissioning of new nuclear power units in Ukraine.
The relevant agreements were signed in Kyiv on Monday by Energoatom’s acting Chairman of the Board Petro Kotin and Executive Vice President and Chief Operating Officer of Hyundai Engineering and Construction Yong Choi in the presence of Ukraine’s Energy Minister Herman Galushchenko and Ambassador Extraordinary and Plenipotentiary of the Republic of Korea to Ukraine Hyun Tae Kim.
At a briefing after the signing of the memorandum, the head of the Energy Ministry noted that this is the beginning of cooperation in the completion of new units and in general for the future, including joint work on new reactor models.
“But now we are talking about specific projects – those that we are currently implementing at the Khmelnytskyi NPP,” the minister added.
As Kotin noted at the briefing, South Korea has a very extensive nuclear industry and a great deal of expertise in it, so the issue of cooperation with Hyundai, which is a leader in this area, is very important for Energoatom.
He also noted that cooperation with this company has already begun, recalling that part of the equipment for KhNPP-5, for the purchase of which an agreement was signed with Westihghouse last year, was manufactured by Hyundai.
“Their support will be very important for us in the future, for the success of our nuclear projects. And we have a very big plan,” Kotin emphasized.
In its release following the meeting, the Ministry of Energy added that the document, in particular, provides for the assistance of Korean partners in the development of production facilities to localize equipment production in Ukraine.
Galushchenko also thanked the Republic of Korea for the assistance provided to the Ukrainian energy sector since the beginning of the full-scale war with Russia, in particular for 10 cargoes of humanitarian aid, including 20 backup power plants and mini-excavators.
At the same time, Hyun Tae Kim emphasized that the Korean side is outraged by the recent Russian attacks that have caused enormous damage to Ukraine’s energy infrastructure. According to him, the government of the Republic of Korea is working to help the Ukrainian energy sector, in particular Kharkiv. At the end of last year, 60 diesel generators were transferred to Ukraine, and another 200 are planned for this year. Korea will also increase support for the Ukrainian energy sector through international organizations.
Hyun Tae Kim noted that the signing of the memorandum between Energoatom and Hyundai will contribute to the development of Ukrainian-Korean cooperation in the nuclear industry, in particular, the exchange of experience in nuclear technologies.
The Ministry of Energy also added that the memorandum of cooperation between the companies was developed in accordance with the agreements set forth in the letter of intent signed during the World Nuclear Exhibition in Paris at the end of November 2023.
As reported, Ukraine has begun construction of KhNPP-5 infrastructure using the AR1000 technology of the American Westighouse. In addition, it is planned to build KhNPP-6 using this technology, as well as two units at the South Ukrainian NPP. In total, the parties agreed on 9 new units.
PJSC Ukrnafta and the American Petroleum Institute (API) have signed a memorandum of understanding, according to which the company will have access to API standards agreed by the global industry community.
“Our experts will take part in meetings and working groups focused on developing and discussing top international practices. API and Ukrnafta will be able to jointly organize standardization, training, certification and safety events,” the company said in a press release on Friday.
According to the document, citing Ukrnafta CEO Serhiy Koretsky, this is the most strategic step for the national oil industry in many years of its existence.
“The Ukrainian oil and gas industry has a glorious history, strong experience and great development prospects. However, we have long been dependent on Soviet, Russian and Belarusian equipment. The API Memorandum should change this for good,” the CEO said.
The signed agreement confirms the commitment of both parties to strengthen Ukraine’s energy independence and its move away from Russian standards, equipment and operations.
According to the press release, quoting API Senior Vice President of Global Industry Services Anchal Liddar, API, as the world’s premier standard-setting organization for the natural gas and oil industries, is honored to begin a new cooperative relationship with Ukrnafta.
“This alliance reinforces our shared vision of strengthening Ukraine’s energy infrastructure and independence based on our world-class standards,” said Liddar.
For his part, according to the Ukrnafta CEO, the memorandum actually opens the door to the future for the company.
“We will be able to exchange information about annual programs, plans for the development of standards and best practices, which will allow us to understand how the world will develop and what Ukrnafta needs to do to be on the same page with the benchmarks that drive progress in the oil and gas industry,” Koretsky explained.
It is noted that the memorandum of understanding with API will allow Ukrnafta to significantly increase its efficiency and attract the best examples of world technologies to the development of the Ukrainian oil industry.
“This is one of the key projects of the company’s transformation in the coming years, which will allow Ukraine to gain the desired energy independence,” the press release says.
API was established in 1919. Since then, the organization has developed more than 800 standards to improve operational and environmental safety, efficiency, and sustainability.
Currently, API represents all segments of the American oil and gas industry. About 600 members of the organization produce, process and distribute most of the energy in the United States and participate in the API Energy Excellence® program, which accelerates progress in environmental and safety protection through the introduction of new technologies and transparent reporting.
Minister of Agrarian Policy and Food Mykola Solsky and Minister of Agriculture and Fisheries of Denmark Jakob Jensen have signed a memorandum of understanding between the agriculture ministries of the two countries, the press service of the Ministry of Agrarian Policy reported.
“The signing of the memorandum is aimed at long-term strategic cooperation to improve the efficiency and sustainability of food production and agriculture,” the statement said.
According to the document, the parties will exchange information and experience in the field of green transition of agriculture and food systems, including joint policies and climate solutions; in the field of food safety and food security.
Ukraine and Denmark are also interested in the prospects of livestock development, including management, animal welfare, animal health, animal breeding, feed and organic farming.
Ukraine and Denmark will set up a joint working group to identify areas of cooperation.
Solsky thanked the Danish government for its support and assistance. According to him, Danish farmers have been successfully developing their business in Ukraine for the past 15 years. They are not deterred by the war in Ukraine.
“Denmark is one of the examples of agriculture in Europe and the world of how to be efficient and profitable. And an example of very high technology. We are interested in investments and in a greater presence of Danes in Ukrainian business. This is a good experience, an extremely high-quality approach, something we would like to learn from, something we want to follow,” the Ukrainian minister emphasized.
In turn, Jensen expressed confidence in the effectiveness of cooperation with Ukraine in the agricultural sector.
Ukrhydroenergo and Canadian company AECON Construction Global Services Incorporated (AECON) have signed a Memorandum of Understanding in Ottawa, Canada, on cooperation in the construction of hydroelectric power plants in Ukraine.
According to the press service of the President of Ukraine, the Memorandum was signed by Ihor Syrota, CEO of Ukrhydroenergo, and John M. Beck, founder and chairman of AECON Group Incorporated.
The signing took place in the presence of President of Ukraine Volodymyr Zelenskyy and Prime Minister of Canada Justin Trudeau.
The document provides for the study of the possible participation of the Canadian AECON in the construction of the Kanivska PSP and Kakhovska HPP.
The European Bank for Reconstruction and Development (EBRD) and 19 financial development institutions (DFIs) signed a Memorandum of Understanding at the Conference on Reconstruction of Ukraine in London to promote joint investments in the private sector of the Ukrainian economy.
“The signing of this memorandum … was the next step in the implementation of the agreement between the EBRD and the G7 DFIs to create a common platform for investment in Ukraine, which was announced at the G7 meeting in Tokyo last month,” the bank said in a press release.
It is noted that the main goal of creating the joint platform between the EBRD and DFI is to promote co-financing by strengthening cooperation and dialogue between partners in the context of providing assistance for reconstruction of Ukraine.
It is noted that the priority of investment initiatives will be given to the private sector of Ukraine’s economy.
“Ukraine’s financial needs during the recovery phase will be very significant, and therefore will require the combined efforts of financial institutions. To maximize the efficiency and effectiveness of their activities, Ukraine’s partners must ensure careful coordination among themselves. The private sector will play an extremely important role in the recovery of the Ukrainian economy,” stressed the EBRD.
The Bank points out that it is ready to work together with the DFI to improve the efficiency and quality of assistance to Ukraine and neighboring countries affected by Russia’s military aggression.
It is specified that the memorandum was signed by British International Investment, Cassa Depositi e Prestiti, DEG (Deutsche Investitions- und Entwicklungsgesellschaft), Development Finance Institute Canada (DFIC), Japan Bank for International Cooperation, Japan International Cooperation Agency, Proparco, USA International Development Finance Corporation, Belgium Investment Company for developing countries.
Also in this list are Compañía Española de financiación del desarrollo (Cofides), Finnfund, Investment Fund for Developing Countries, Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden, Norfund, Oesterreichische Entwicklungsbank, Sociedade para o Financiamento do desenvolvimento, instituicao financeira de credito, Swiss Investment Fund for Developing Markets and Swedfund international.
Ukraine’s Foreign Ministry on Wednesday signed a Memorandum of Cooperation with the Italian Trade Agency in the framework of the conference on the restoration of the Ukrainian state, the Foreign Ministry’s press service said.
In particular, the Memorandum is an important step towards creating new opportunities for Ukrainian exporters in the Italian market, revitalizing B2B contacts, and expanding Ukrainian products on the shelves of leading Italian retail chains.
It is noted that within the framework of the initiated cooperation, Ukrainian exporters will be able to get expanded opportunities to establish direct working contacts with Italian partners, business meetings, participation in exhibitions and retail events.
“The Ministry of Foreign Affairs of Ukraine is consistently expanding its partnerships with foreign specialized associations to help Ukrainian exporters enter new foreign markets using the capabilities of the Nazovni digital platform,” the Foreign Ministry’s press service summarized.
The international platform NAZOVNI is a globalization service for Ukrainian business created to promote goods and services abroad with the assistance of Ukrainian diplomatic missions.
