Business news from Ukraine

U.S. DEPARTMENT OF ENERGY SUPPORTS UKRAINE, READY TO HELP WITH ENERGY EFFICIENCY

16 June , 2016  

KYIV. June 16 (Interfax-Ukraine) – Ukraine’s Prime Minister Volodymyr Groysman during his working visit to the U.S. met with U.S. Secretary of Energy Ernest Moniz.

“Representatives of the U.S. Secretary of Energy have assured of their readiness to support Ukraine, and to help in Ukraine’s achieving energy efficiency,” the information and communications department of the office of the Cabinet of Ministers reported on Wednesday.

At the meeting, the two officials discussed the government’s plans in achieving energy independence of Ukraine. Groysman said that energy independence is a matter of national security of Ukraine. “Our task is to diversify, to become an energy efficient state, and we are currently working on this. The energy reform is among our priorities,” the prime minister said.

He also reported the first steps of the government in achieving this. He spoke about the introduction of a single market price for natural gas by the government. This decision will help overcome corruption in the sector, spur the domestic production of gas and help achieve energy efficiency in the country. At the same time, those who are unable to pay for gas will receive assistance after the market prices for gas will be established.

According to Groysman, the Ukrainian government also focuses on the nuclear power industry and the development of alternative energy. In the near future, the government plans to adopt the strategy of hydropower development. The prime minister said that the share of the hydropower sector may be increased to 15.5% of all the power generated in the country, compared with the current 8.5%.

Groysman also spoke about the need for the modernization and restructuring of Ukrainian coal mines. In addition, the government focuses on the reform of the national oil and gas company Naftogaz Ukrainy.

The prime minister thanked the U.S. government for its support of Ukraine’s energy sector.