With growing global urgency and as increasingly more companies and countries commit to climate conscious hydrocarbon production and net zero targets by 2050, what does the energy transition agenda mean for the Ukraine and how does it compare to other nations? and companies already making the transition from an international oil company to an integrated energy company?Įnergy sector reform remains central to Ukraine’s sustainable energy transition, subsequent growth and integration within the EU energy space.
With a gas portfolio comprising greenfield and brownfield, onshore and offshore, there are wide-ranging opportunities to explore and produce conventional and unconventional gas at various stages of developed, explored, and underexplored.Īs part of Government plans to produce 30 billion cubic metres of gas per annum by 2030 to alleviate gas import dependency, Ukraine’s business environment is undergoing radical change to encourage foreign investment and international partnerships from public governance, anti-corruption laws, energy liberalisation and diversification, trading and pricing transparency and unbundling of state-owned conglomerates.Ī must attend discussion for specialised Independent E&P companies, international energy companies, global oilfield service companies, technology providers and investors looking to identify longer-term strategic investment opportunities and gain E&P access to key gas rich reserves within Ukraine and regional neighbouring countries. In 2020, Naftogaz took ownership of 40,000 square kilometres of onshore and offshore acreage for exploration and appraisal. In this discussion, panelists will focus in on the importance of accelerating technology deployment and its pivotal role in maximising the regions natural resources, at the same time positioning infrastructure for energy security of supply and energy transition, the EU Green Deal, transportation and trading of decarbonised gases to the European Union. With its vast midstream transit infrastructure and underground storage capacity, what are the immediate modernisation and integration needs to ensure a modern, efficient and resilient energy network for the future? How do they compare and what can be learned from other neighbouring country networks?
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With an Association Agreement with the EU and Free Trade Agreements with 16 countries, plus 13 seaports with direct access to the Black and Azov Sea’s, Ukraine is strategically positioned to fulfil this requirement.Īs energy transition gains pace and initiatives such as the EU Green Deal carbon border adjustment mechanism comes into effect, regional infrastructure modernisation becomes a necessity to enable transportation and export of not only natural gas and LNG, but alternatives such as hydrogen and biofuels. Mr Sunak is expected to fall into line, despite being sceptical.Sustainable supplies of natural gas as a transition fuel will remain instrumental for Europe’s energy security in the next 30 years. Reports said Mr Johnson wanted to see the loan scheme put in place quickly, despite concerns from the chancellor.Īfter officials at Mr Kwarteng’s department held emergency talks with industry leaders, the Business Secretary submitted a proposal to Downing Street and the Treasury and was successful in staking his case. No 10 turned up the heat last night when it backed Mr Kwarteng, insisting the Treasury had been involved in the talks. To be crystal clear, the Treasury are not involved in any talks.’ In a stinging rebuke a treasury source said: ‘This is not the first time the secretary has made things up in interviews. In extraordinary events on Sunday, after Mr Kwarteng said he was consulting the chancellor about what help could be offered to struggling firms, treasury sources openly rejected this and accused the business secretary of ‘making things up’. The solution comes after the Treasury denied being in talks with the Business Department, leading to fears a package of support would not be forthcoming.
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