Energy

Thursday, May 2

During the years of the war against Ukraine, revenues from the Russian Federation’s gas exports have decreased fourfold.

During the years of the war against Ukraine, revenues from the Russian Federation’s gas exports have decreased fourfold. The failed attempt to freeze Europe, which deprived Russia of a key natural gas sales market, has collapsed gas revenues in the Russian budget, say analysts from the Russian Gaidar Institute. Accordin...

Wednesday, May 1

Europe has ended its dependence on Russian gas but is now hooked on Russian fertilizers.

Europe has ended its dependence on Russian gas but is now hooked on Russian fertilizers. After the invasion of Ukraine, the Russian Federation sharply reduced the supply of pipeline gas to the EU, in an attempt to put pressure on European governments. Instead, the EU began to build infras...

Ukraine aims to increase the volume of European gas in storage to four billion cubic meters and earn ₴70B through the transit of Russian oil.

Ukraine aims to increase the volume of European gas in storage to four billion cubic meters and earn ₴70B through the transit of Russian oil. The head of Naftogaz, Oleksiy Chernyshov, is convinced that Europe is still interested in Ukrainian gas storage, and he has called on EU countries to help protect gas storage facilities from Russian a...

Tuesday, April 30

Leaders of Ukraine’s energy sector increased their revenues by 8%.

Leaders of Ukraine’s energy sector increased their revenues by 8%. The combined income of Ukraine’s top ten energy companies in 2023 amounted to almost ₴745.9B, 8% more than in 2022 (₴688.45B). Half of the companies in the top ten are state-owned, and four more...

Ukraine’s energy mix is greener than the EU’s energy mix; Ukraine can help Europe with decarbonization.

Ukraine’s energy mix is greener than the EU’s energy mix; Ukraine can help Europe with decarbonization. The top manager of Metinvest, Andriy Kryl, noted that the Ukrainian and European metallurgical sectors face the same challenges. “We are talking about decarbonization, about the production of gr...

Monday, April 29

A Ukrainian company will extract gas in Iraq, producing up to four billion cubic meters annually.

A Ukrainian company will extract gas in Iraq, producing up to four billion cubic meters annually. A Ukrainian company, Ukrzemresurs, which specializes in natural gas extraction, received a contract to develop the Akkas gas field in the western Iraqi province of Anbar. According to the Minister of ...

Friday, April 26

How is Russia able to earn billions to fund its war through oil, gas, and metal?

How is Russia able to earn billions to fund its war through oil, gas, and metal? Russia’s revenues from the sale of oil and gas in April will almost double compared to the previous year and amount to $14B, thanks to rising prices. According to Reuters, revenues from the sale...

Thursday, April 25

Russia has not yet felt the impact: Kyiv must continue attacks on Russian refineries.

Russia has not yet felt the impact: Kyiv must continue attacks on Russian refineries. In the evening of April 24 in the Smolensk region of the Russian Federation, following several drone attacks, fire broke out at fuel and energy facilities after several explosions, the governor of the...

Wednesday, April 24

Ukraine has 22 biomethane plants ready to join the gas distribution network.

Ukraine has 22 biomethane plants ready to join the gas distribution network. Serhiy Minin, a representative of Gas Distribution Networks of Ukraine, said that the company has already issued two approvals of technical conditions for the connection of biomethane plants in the Ky...

Denmark will additionally allocate about €420M to rebuild Ukraine and develop a green energy sector.

Denmark will additionally allocate about €420M to rebuild Ukraine and develop a green energy sector. Ukraine and Denmark signed a memorandum that provides for cooperation with the private sector through the Ukraine Facility mechanism with a system of loans and guarantees within the framework of the E...

Tuesday, April 23

Ukraine is preparing to launch its biomethane register and is discussing the attractiveness of investment in the industry.

Ukraine is preparing to launch its biomethane register and is discussing the attractiveness of investment in the industry. The head of the State Agency for Energy Efficiency, Hanna Zamazeyeva, said that the development of the biomethane register is currently underway. Once implemented, exporters can supply biomethane to E...

Monday, April 22

Ukraine’s allies provide billions of euros to support Ukraine’s energy industry and reconstruction.

Ukraine’s allies provide billions of euros to support Ukraine’s energy industry and reconstruction. The UK allocated more than €173.9M to strengthen Ukraine’s energy sector. In addition, this year Kyiv will receive €560M from the EIB for energy, transport infrastructure, and housing reconstruc...

Thursday, April 18

Due to the recent attacks, Ukraine faces its most challenging energy situation since the start of the war,

Due to the recent attacks, Ukraine faces its most challenging energy situation since the start of the war, said DTEK CEO Maksym Timchenko. “We have lost 80% of the available capacity. Of course, these are the most difficult times since the beginning of the full-scale invasion in terms of the country&...

Ferrexpo is investing in the construction of a 10.8 MW solar power plant and electrifying its production processes.

Ferrexpo is investing in the construction of a 10.8 MW solar power plant and electrifying its production processes. The metallurgical company Ferrexpo plans to build a solar power plant with a capacity of 10.8 MW for its production needs, said Viktor Lotous, chairman of the board of Poltava MPP. He states that the ...

Wednesday, April 17

Ukraine is working on two projects with the capacity to produce up to 1,700 MW of pure hydrogen.

Ukraine is working on two projects with the capacity to produce up to 1,700 MW of pure hydrogen. Among the most developed hydrogen projects in Ukraine is the H2U Hydrogen Valley project, which is being implemented by the Voden Ukrainy company. Two renewable hydrogen plant valleys are being create...

Ukraine will build 10 GW of capacity to produce renewable hydrogen, which the EU urgently needs.

Ukraine will build 10 GW of capacity to produce renewable hydrogen, which the EU urgently needs. Currently, hydrogen production in Ukraine is approximately 360,000 tons per year, used mainly to produce ammonia. Although this is only 0.5% of global demand, with technological development and invest...

Tuesday, April 16

Western countries are involved in 96% of Russian LNG exports.

Western countries are involved in 96% of Russian LNG exports. The maritime industries from countries supporting Ukraine, including members of the G7 and the EU, provided for more than 90% of Russian exports of liquefied natural gas in 2023, totaling €15.5B. 96% ...

Monday, April 15

Ukraine has started preparing its energy system for next winter; small generation facilities will be built.

Ukraine has started preparing its energy system for next winter; small generation facilities will be built. In preparation for the next heating season, the Ukrainian government will focus on the fastest possible construction of small generation facilities for Kharkiv and other cities, with a transition in t...

The Nova group is launching its own energy company to generate electricity, including renewable energy.

The Nova group is launching its own energy company to generate electricity, including renewable energy. In connection with the strikes by the Russian Federation on the energy system, the Nova group of companies has decided to create the Nova Energy company, which will develop electricity generation, inc...

Friday, April 12

Russia rocks the Ukrainian energy industry: facilities in five regions were damaged, and the Trypilska TPP in the Kyiv region was destroyed.

Russia rocks the Ukrainian energy industry: facilities in five regions were damaged, and the Trypilska TPP in the Kyiv region was destroyed. A massive Russian missile attack on the night of April 11 damaged Ukrenergo substations and generation facilities in the Odesa, Zaporizhzhia, Lviv, Kharkiv, and Kyiv regions. The Trypilska TPP was com...

Russia is destroying Ukraine’s power generation to prepare its path for a future offensive.

Russia is destroying Ukraine’s power generation to prepare its path for a future offensive. This recent focus is intended not only to destroy civilian infrastructure but also to exhaust Ukrainian air defenses. According to the WSJ, by the beginning of summer the situation with Ukraine’s air ...

DTEK Energy Holding plans to add 1.5 GW of green energy to Ukraine’s energy system within three years.

DTEK Energy Holding plans to add 1.5 GW of green energy to Ukraine’s energy system within three years. CEO of DTEK Maksym Timchenko said: “We have been discussing the need for distributed generation since the first months of the war. Our strategy involves investing in green generation. We plan to...

Thursday, April 11

Ukraine is looking for investors to restore oil wells.

Ukraine is looking for investors to restore oil wells. According to Ukrnafta, the company’s strategy is the restoration of exhausted wells with the help of modern technologies. There are currently 4,222 such wells, 2,100 are within the limits of Ukrnafta&...

Naftogaz reaches agreements on gas storage in Ukraine with German, Norwegian and French companies; more than 200 traders are already using these services.

Naftogaz reaches agreements on gas storage in Ukraine with German, Norwegian and French companies; more than 200 traders are already using these services. The head of the Naftogaz group, Oleksiy Chernyshov, said that Ukraine is negotiating with German company RWE, Norwegian Equinor, and French TotalEnergies and Engie. Chernyshov also clarified that, so ...

Tuesday, April 9

Ukraine must destroy three to four oil refineries per month to provoke a fuel crisis in Russia,

Ukraine must destroy three to four oil refineries per month to provoke a fuel crisis in Russia, said the director of the energy programs at Razumkov Center, Volodymyr Omelchenko. According to him, over 30 large oil refineries in Russia have a total capacity of 330 million tons. So far, Ukraine h...

The energy regulator has increased the attractiveness of Ukrainian gas storage facilities for European customers.

The energy regulator has increased the attractiveness of Ukrainian gas storage facilities for European customers. The National Commission for State Regulation of Energy (NCRECP), which administers state regulation in the fields of energy and communal services, approved several changes to the Gas Storage Code and ...

Friday, April 5

Russia plans to restore operations at the drone-damaged oil refineries by June, but sanctions stand in their way.

Russia plans to restore operations at the drone-damaged oil refineries by June, but sanctions stand in their way. The Russian minister of energy stated: “Repairs at the factories are underway. We plan to fix several refineries in April-May, perhaps by the beginning of June.” At the same time, since Ja...

Thursday, April 4

Is the White House ready to make gas concessions to help Ukraine?

Is the White House ready to make gas concessions to help Ukraine? Reuters sources in the White House said that US officials are ready to end the pause announced by President Biden on the approval of liquefied natural gas exports to get the aid package for Ukraine ap...

The Zakarpattia Region’s electricity generation is fully provided by its consumer and commercial green energy producers.

The Zakarpattia Region’s electricity generation is fully provided by its consumer and commercial green energy producers. Zakarpattia administrator Viktor Mykyta said: “Now Zakarpattia is among the leaders in the country in terms of the ratio of the number of generating plants for the production of electricity from...

Tuesday, April 2

How can Ukraine complete the integration of its electricity sector with the EU?

How can Ukraine complete the integration of its electricity sector with the EU? To fully integrate the Ukrainian energy market into the European system, it is necessary to continue implementing European legislation and the liberalization of the domestic market, as analyzed by the...

Monday, April 1

Russia continues to attack hydro and thermal power plants, destroying 10-12% of generation capacities.

Russia continues to attack hydro and thermal power plants, destroying 10-12% of generation capacities. According to the Energy Research Center director, Oleksandr Kharchenko, Ukraine lost 10-12% of the generating capacity that was available at the time of the first attack on March 22 due to the latest ...

Given the continued Russian missile attacks, Ukraine will have to change the structure of its energy system.

Given the continued Russian missile attacks, Ukraine will have to change the structure of its energy system. A shift to a large number of distributed small generation facilities is envisioned because it will be difficult and expensive for Russia to fire missiles at hundreds of small power plants, according t...

Friday, March 29

Ukrainian Energy Holding will build an energy storage system in Poland.

Ukrainian Energy Holding will build an energy storage system in Poland. DRI, DTEK’s EU-focused subsidiary, has signed a definitive, binding share purchase agreement with Poland’s Columbus Energy that will give it the right to build a 133 MW battery storage fac...

Ukraine can occupy 20% of the European biomethane market.

Ukraine can occupy 20% of the European biomethane market. As noted by the head of the specialized association, Heorhiy Heletukha, there is no need to fear that Ukraine will see an overproduction of biomethane and an oversaturation of the European market. Aft...

Wednesday, March 27

Russian strikes have affected operations at Odesa ports, but in return, Ukraine has disabled 10-12% of the aggressor’s oil refining capacity.

Russian strikes have affected operations at Odesa ports, but in return, Ukraine has disabled 10-12% of the aggressor’s oil refining capacity. As a result of Russian missile attacks on the energy infrastructure in southern Ukraine, interruptions in the port of Odesa’s power supply and to certain sections of the railway network were recorded....

Swedish businesses will expand their presence in Ukraine, and Finnish business agencies will open a representative office in Kyiv.

Swedish businesses will expand their presence in Ukraine, and Finnish business agencies will open a representative office in Kyiv. The Swedish business community is interested in increasing its presence in Ukraine and developing cooperation with Ukrainian companies in high-tech industries, energy, telecommunications, and cyber se...

Tuesday, March 26

Ukraine refuses to import gas and is preparing for zero transit.

Ukraine refuses to import gas and is preparing for zero transit. As a memorandum with the IMF states, “Limited domestic consumption and growing domestic production limited the need for gas imports during the last heating season. For the next heating season of...

Friday, March 22

The indissoluble link between business and war: UBN held a second event in Kyiv

The indissoluble link between business and war: UBN held a second event in Kyiv On a still cool but already spring day, amid a tangle of bad news and public concerns about the future hanging in the air of Kyiv’s streets, a circle of selected business investors, entrepreneur...

Thursday, March 21

The government allows the export of green electricity to the EU.

The government allows the export of green electricity to the EU. The Cabinet of Ministers of Ukraine approved a resolution enabling the state enterprise Guaranteed Buyer to sell electricity purchased from producers utilizing renewable energy sources (RES) not only ...

Wednesday, March 20

Oschadbank will join in the construction of a 520 MW wind power plant in western Ukraine.

Oschadbank will join in the construction of a 520 MW wind power plant in western Ukraine. The state bank will take part in implementing a project from the Friendly Wind Technology company to construct a wind farm with a capacity of 520 MW in the west of Ukraine, said the deputy chairman of...

Monday, March 18

Despite all the challenges, we continue to move towards the goal: Olha Stefanishyna on the progress and obstacles in European integration.

Despite all the challenges, we continue to move towards the goal: Olha Stefanishyna on the progress and obstacles in European integration. Within the framework of the second event of Ukraine Business Network, where outstanding speakers from both the private and public sectors presented global macroeconomic forecasts for 2024-2025, scenar...

Thursday, March 14

Ukraine attacked the four largest Russian refineries in a single day.

Ukraine attacked the four largest Russian refineries in a single day. The Security Service of Ukraine (SBU) reported that on the night of March 13, the SBU attacked three Russian oil refineries in Ryazan, Kstovo (Nizhny Novgorod region), and Kirishi (Leningrad region). ...

Wednesday, March 13

Russian oil depots are burning, and diesel fuel exports have fallen to a three-month low.

Russian oil depots are burning, and diesel fuel exports have fallen to a three-month low. The volume of diesel and gas oil deliveries through Russian ports amounted to 858,000 tons last week, the lowest indicator since the beginning of December last year. Distillate shipments fell for the ...

Tuesday, March 12

Ukraine suffers $400 million in losses per year due to the transit of Russian gas.

Ukraine suffers $400 million in losses per year due to the transit of Russian gas. Naftogaz of Ukraine is suffering significant losses from the transit of Russian gas, the chairman of the company’s board, Oleksiy Chernyshov, said. Since May 2022, Ukraine has stopped gas transit thro...

Ukraine has excellent energy export potential. What’s standing in the way?

Ukraine has excellent energy export potential. What’s standing in the way? To build new energy-generation facilities in Ukraine, it is necessary to create conditions for investment in the energy industry, noted economist Kyrylo Kryvolap. He added that Ukraine has great expor...

Friday, March 8

What biogas projects are being developed in Ukraine?

What biogas projects are being developed in Ukraine? The potential for biomethane production in Ukraine is estimated at 21.8 billion cubic meters per year. For comparison, Ukraine produced 18.7 billion cubic meters of natural gas last year. Here are sev...

Tuesday, March 5

The EU does not plan on negotiating with Russia regarding gas transit through Ukraine, while Kyiv is open to some options.

The EU does not plan on negotiating with Russia regarding gas transit through Ukraine, while Kyiv is open to some options. The European Commission does not plan to engage in any contact with Russia to continue the transit of Russian gas to European countries through Ukraine’s GTS. European Energy Commissioner Kadri ...

Ukraine’s government has introduced a global standard for stimulating the construction of new green energy facilities.

Ukraine’s government has introduced a global standard for stimulating the construction of new green energy facilities. The Cabinet of Ministers approved a resolution that improves the auction model for selling green electricity. Instead of a fixed tariff, a contract-for-difference mechanism has been introduced that wi...

Monday, March 4

The estimated potential of biomethane production in Ukraine could reach €40B.

The estimated potential of biomethane production in Ukraine could reach €40B. Based on the existing raw material base, Ukraine can annually produce 21.8 billion cubic meters of biogas or biomethane, according to a DiXi Group report. It is noted that in terms of providing raw ma...

Wednesday, February 28

Ukraine’s producers and consumers of green energy have received guarantees that will increase investment attractiveness and export potential.

Ukraine’s producers and consumers of green energy have received guarantees that will increase investment attractiveness and export potential. Green electricity production can benefit both RES owners and industrialists. A government resolution regulating the procedure for fixing guarantees to create green energy should make investment more a...

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