By cutting gas consumption and increasing domestic gas production Ukraine may stop buying the Russian or European gas by 2025, Mykhailo Honchar, president of Strategy XXI center told journalists July 25, Ukrinform reports.
MOSCOW - Gazprom will not extend its transit contract with Naftogaz Ukrainy, expiring in 2019, if it is offered disadvantageous terms, Russian Prime Minister Dmitry Medvedev said in an interview with the Slovenian Delo newspaper ahead of his visit to Ljubljana.
The reduction in rental payments for natural gas extraction (royalties) that was recently announced at the Ukrainian American Business Forum was widely recognized as an improvement on the 55 percent royalty tax which has been in place since last August.
WASHINGTON, D.C. -- Investors have complained vociferously that the nation’s goal to become energy independent is doomed by excessively high royalty tax rates of 55 percent enacted last year as a crisis measure.
Ukraine and 14 other countries of the European Union, the Energy Community in Dubrovnik (Croatia) on July 10 signed a memorandum on the gas market integration and the diversification of gas supply sources, according to the website of the European Commission.
When asked what the most promising sectors for investment in Ukraine are, business says energy efficiency.
Alex Ryabchyn, head of parliament's subcommittee on energy savings and efficiency, has Ukraine's coat of arms, the trident, pinned to the lapel of his navy jacket. But like his knee-hole blue jeans, the lawmaker says the nation’s energy strategy is still incomplete.
President Petro Poroshenko, in promising to clean up Ukraine's corrupt energy sector in his annual speech to parliament, said "opaque gas fumes will no longer light up Forbes global rich list with Ukrainian names."
MYKULYCHI VILLAGE, Ukraine - Some 20 kilometers northwest of Kyiv stands a 129-square meter, single-family country home that is as green as it is smart.
Investing in home energy efficency is not something the average Ukrainian has traditionally thought of doing. But gas bills will be incrementally rising to market levels, increasing almost four-fold by 2017.
While global trends are signaling about the expanding of the low carbon energy, Ukraine, being in the center of Europe and having a well-developed energy infrastructure, is lagging behind due to huge energy crises. The energy market has been monopolized by few and artificially kept aside the innovation and development. Moreover, low energy prices contributed to market inefficiency and cross subsidizing. Lack of competition and transparency made the situation even worse. Such a situation could have continued for a while, but the Russian aggression accompanied by energy crises revealed the energy market imperfection. Today, when the energy is no longer an economic or policy issue, but the issue of national security, the reanimation of the energy market is one of the important tasks for the coalition government.
The Ukrainian agri-food sector needs to reduce its specific energy costs if it aspires to maintain its competitiveness both domestically and internationally.
The Ukrainian government is not in a rush to drop its dangerous fiscal experiments in taxation of domestic gas production. Despite the recommendations of its international partners, the Ministry of Finance continues to insist on exorbitant tax rates, which are the highest in Europe.
UFA - The annulment of the contract between Gazprom and Saipem stems from a technical issue and will not affect the Turkish Stream gas pipeline project, Energy Minister Alexander Novak told journalists.
Chief of Naftogaz of Ukraine NJSC Andriy Kobolev reveals his monthly net income in hryvnya, equaling 1,500 euros, according to Naftogaz press service, citing Kobolev's interview with the German newspaper Die Zeit.
Ukraine risks not having enough natural gas in storage to last it through the winter after reducing imports from the European Union and suspending purchases from Russia.
The delegation which will represent Ukraine at the upcoming investment conference in Washington on July 13 will present a new tax policy for the gas sector which has been designed to increase gas production, Prime Minister Arseniy Yatsenyuk said during a meeting at the Ministry of Energy and Coal Industry in Kyiv.
The decline in natural gas imports from Europe and the subsequent pumping into underground gas storage facilities (UGS) is due to a lack of funding, President of PJSC Ukrtransgaz Ihor Prokopiv has told journalists in Kyiv.
Ukraine expects to increase capacity to import natural gas from Slovakia in the reverse direction to 41 million cubic meters a day to 55-57 million cubic meters, Ukrtransgaz President Ihor Prokopiv told journalists in Kyiv on July 7.
President of Ukraine Petro Poroshenko has said he is confident that transit of Russian gas through Ukraine will continue after 2019.