Development of geothermal energy and adoption of modern carbon capture technologies – memorandum of cooperation signed

During EU Green Week in Brussels, a Ukrainian state-owned company and an international corporation signed Memorandums of Cooperation. The agreement involves NJSC “Nadra Ukrainy” and Baker Hughes. Baker Hughes is an energy technology company delivering solutions to energy and industrial clients worldwide. With a century of experience and operations in over 120 countries, its innovative technologies and services advance energy, making it safer, cleaner, and more efficient for people and the planet.

“The initiation of cooperation between NJSC ‘Nadra Ukrainy’ and Baker Hughes Company marks another practical step towards Ukraine’s integration into global markets and the European economy. The signed documents align with the paradigms of modern energy transition processes, consistent with the EU Green Deal. Geothermal energy projects hold significant potential in Ukraine, as they can diversify electricity sources, ultimately aiding the gradual phase-out of fossil fuel-based electricity and heat production. This opens the door to studying Ukraine’s geothermal potential and attracting investment and modern technologies to low-carbon projects,” said Svitlana Grynchuk, Minister of Environmental Protection and Natural Resources of Ukraine.

Regarding carbon capture and storage, Ukraine has considerable potential in depleted hydrocarbon fields, particularly in western regions near the EU border, for establishing carbon dioxide storage sites, as well as potential in the Black Sea, which is currently being explored in collaboration with other countries in the region.

“By signing these Memorandums at EU Green Week, we have taken another concrete step towards achieving our climate goals and ambitions, while laying the groundwork for future innovations, technological progress, and energy source diversification,” the Minister stated.