Nearly CAD 1 Billion to support Ukraine’s energy sector – Denys Shmyhal on the outcomes of the Ukrainian delegation’s visit to Canada led by President Volodymyr Zelenskyy

First Deputy Prime Minister – Minister of Energy of Ukraine Denys Shmyhal spoke about the results of the visit of the Ukrainian delegation led by President Volodymyr Zelenskyy to Canada. According to him, a number of important agreements were reached in the energy sector, particularly regarding financial support provided by Canadian partners.

 “CAD 757 million for energy security, CAD 200 million for energy projects, and a new contribution to the Energy Support Fund – these are the results of the Ukrainian delegation’s work in Canada in the energy sector under the leadership of the President of Ukraine,” reported First Deputy Prime Minister – Minister of Energy of Ukraine Denys Shmyhal, who took part in the delegation’s work.

The Minister of Energy clarified that Canada would provide CAD 757 million through the EBRD for emergency natural gas purchases and the accumilation of reliable strategic fuel reserves ahead of winter.

Denys Shmyhal noted that work continues on long‑term agreements for LNG supplies from Canada to Ukraine. Naftogaz of Ukraine and Kino Aski LNG signed a memorandum to explore the possibilities of LNG supply after 2032. Canadian deliveries may be synchronized with Naftogaz’s capacities at the LNG terminal in Klaipėda for 2033–2044. The declared potential capacity of the Kino Aski LNG project is up to 15 million tonnes of LNG per year.

Ukraine is attracting Canadian investments into electricity generation and storage projects. During the visit, Naftogaz of Ukraine and Jacob Capital Management agreed on cooperation. At the first stage, potential investment projects in electricity generation will be developed.

The parties are deepening cooperation in hydropower. Ukrhydroenergo and Export Development Canada (EDC) will cooperate in procurement from Canadian suppliers of equipment, technological solutions, or services for Ukrainian hydropower plants. We thank EDC for disburing CAD 200 million under the concessional financing mechanism for priority projects in Ukraine, including in hydropower.

“We highly value the assistance of partners in the process of restoring Ukraine’s energy sector. Canada’s contribution of CAD 10 million to the Energy Support Fund is of great importance for Ukraine’s energy resilience. Canada’s total contributions to the Fund amount to CAD 100 million. These funds helped procure equipment for distribution networks, restore gas production infrastructure, and provide autonomous power supply for hospitals, including in frontline Kharkiv region,” emphasized Denys Shmyhal.

The Minister of Energy stressed that Ukraine and Canada continue their strategic partnership in the nuclear and uranium sectors. Energoatom and Canada’s Cameco will continue cooperation to ensure long‑term uranium supplies to Ukraine and conversion services until 2035.

“We consolidated the relevant agreements with a joint statement with Canada’s Minister of Energy and Natural Resources Tim Hodgson. We thank Canada for its unwavering support and concrete steps to strengthen Ukraine’s energy security and resilience!” highlighted First Deputy Prime Minister – Minister of Energy of Ukraine Denys Shmyhal.