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Embracing Investment Opportunities For A New Energy Future

Ukraine Gas Investment Congress: Partnerships key to securing Ukraine’s energy future

21 October 2021, Kyiv 

  • German Galushchenko, Ukraine’s Minister of Energy, delivered a keynote address on the final day of the Ukraine Gas Investment Congress in Kyiv identifying the need for strategic partnerships to deliver energy transition and sustainable gas supplies. 
  • Topics on the final day of the Congress included Innovation and Industry 4.0., energy transition, the role of hydrogen, and Black Sea Prospecting. 
  • Inaugural edition of the Ukraine Gas Investment Congress concludes with three MOUs signed between Naftogaz and international partners for the exploration and production of Ukraine’s gas resources.

German Galushchenko, Ukraine’s Minister of Energy delivered a keynote address at the opening of the final day of the Ukraine Gas Investment Congress in Kyiv highlighting the importance of strategic partnerships to develop Ukraine’s natural resource base. The event, hosted by Naftogaz under the patronage of the Ministry of Energy, provided a platform for dialogue and partnerships in support of a secure energy future for Europe.

Mr Galushchenko said: “Achieving our goals of energy security and energy independence for Ukraine is a question of investment and finding a joined-up approach with Naftogaz and other local and international partners. The Ukrainian government will do whatever possible to make plans for exploration and production come true.” 

The speech concludes a successful Ukraine Gas Investment Congress, during which three memorandums of understanding were agreed between Ukraine’s Naftogaz and international partners. 

Mr Yuriy Vitrenko, CEO of Naftogaz, led a signing ceremony yesterday for a series of MOUs committing to cooperation in the development of Ukraine’s onshore, offshore and unconventional resources with Dragon Oil of the UAE, SOCAR AQS of Azerbaijan and with US-based companies Helmerich & Payne (H&P) and 3 Seas Energy. 

Mr Vitrenko said: “Our goal of making Ukraine self-sufficient in natural gas within five years is ambitious but highly achievable. The partnerships and memorandums of understanding that Naftogaz has signed in recent days will drive forward our agenda in exploration and production of Ukraine’s gas resources. After a productive first Congress, we believe Naftogaz as a national company will become an essential partnership platform for attracting investments into Ukraine” 

On its second and final day, the UGIC continued to explore the potential for Ukraine to modernise its gas infrastructure and play an essential role in meeting Europe’s energy needs. Participants heard from key players in the development of Ukraine’s gas sector as they examined the country’s potential as a long-term provider of renewable and low-carbon energy. 

In the morning, participants examined the importance of Ukraine for the energy transition and in the development of hydrogen as a key low-carbon resource. Panellists in the morning sessions included Torsten Wöllert, Minister Counsellor for Energy at the European Commission and Dr James Watson, Secretary General Eurogas, along with Oleksandr Riepkin, President of the Ukrainian Hydrogen Council. 

The afternoon panels focused on Black Sea Prospecting and the opportunities of Industry 4.0 for Ukraine’s modernisation needs. Panellists included Martin White, Vice President Halliburton, Maksym Nemchynov, Deputy Minister of Energy of Ukraine, and Andrii Khomenko, CTO of Naftogaz. 

The central theme of innovation and modernisation on Day 2 reflected the growing recognition in the international community that Ukraine has a major role to play in supplying Europe’s energy needs in the long term.