Ukraine plans to cooperate with Baltic states in oil and gas sector, electricity

Ukraine plans to cooperate with Baltic states in oil and gas sector, electricity

Ukraine seeks to cooperate with the Baltic states in the oil and gas sector and electricity, in particular, in the implementation of programs on decentralization of the energy system and the development of bioenergy and cogeneration projects.

"Ukraine aspires to become a hub of clean electrical energy for Europe. The country will increase its capacity to supply clean electricity to the EU and store it for balancing market needs. It is necessary to discuss the possibilities of building new energy corridors and distribution networks that will strengthen the export-import capabilities of our countries. Undoubtedly, Ukrainian clean electricity will help the EU in the green transition, and new networks – in synchronizing the power grids of the Baltic countries with ENTSO-E and will enhance the energy sustainability of the EU," Deputy Minister of Energy of Ukraine Yaroslav Demchenkov said, the press service of the Ministry of Energy informs.

The deputy minister also called on the Latvian business to join the implementation of energy system decentralization programs, the creation of locally distributed generation, the preparation of projects to increase the energy efficiency of households and enterprises, and bioenergy and cogeneration projects in Ukraine.

In addition, he pointed to Ukraine's prospects as an Eastern Europe gas hub and cooperation between countries in the oil and gas sector.

"Ukraine is ready to provide spare capacity for gas transit and storage. The close proximity to the EU borders is a strategic advantage which, for example, makes it possible to store LNG brought to Europe. We offer up to 15 billion cubic meters of gas storage capacity not only for private foreign companies but also for strategic gas reserves of EU member states," Demchenkov added.

As reported, Lithuanian company Ignitis Group will donate EUR 12 million to restore Ukraine's energy infrastructure.

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