Despite the hostilities, Ukraine is continuing to reform its energy sector and integrate its energy markets with those of Europe. This was emphasised by German Galushchenko, Minister of Energy of Ukraine, in his speech at the Kyiv International Economic Forum.

“We did not stop reforming the energy sector during the war. A number of laws were adopted to reform the energy sector, including those on REMIT and certification of our gas storage facilities in accordance with European rules,” he said.

The Energy Minister emphasised that, as a result of these decisions, foreign companies were able to pump and store gas in Ukraine’s underground gas storage facilities even during the war.

“Our goal is Ukraine as an energy hub in Europe. The fact that today gas is being pumped into Ukrainian underground storage facilities only proves the validity of this plan,” German Galushchenko added.

The Minister also recalled that just the day before, a VVER-440 nuclear power unit was connected to the grid, using fuel produced by the American company Westinghouse in cooperation with Energoatom specialists.

“This type of fuel was previously produced only in russia. The russian monopoly has been destroyed and the door to sanctions against russia in the nuclear industry has finally been opened,” the Minister added.

German Galushchenko stressed that work was underway to prepare a regulatory framework for the integration of the Ukrainian and European energy markets. He also recalled the adoption of the Energy Strategy of Ukraine until 2050, which reflected the vision of the sector’s future and was important for investors planning to participate in the development of the Ukrainian energy sector.