Energy

Tuesday, August 13

The implementation of an investment project in Ukraine to develop hydrogen energy involves attracting about €33B in investment capital.

The implementation of an investment project in Ukraine to develop hydrogen energy involves attracting about €33B in investment capital. Scientists presented research on the development of investment projects in Ukraine: To achieve the goals of the Development of hydrogen energy in Ukraine project, a total investment of €32.882B will b...

Monday, August 12

Ukraine is switching to solar energy: ₴1B in loans have been issued, and solar panels will be installed on all public buildings.

Ukraine is switching to solar energy: ₴1B in loans have been issued, and solar panels will be installed on all public buildings. Ukrainian banks have already approved issuing loans for the installation of solar power systems in households worth ₴1B ($25M), said Minister of Energy German Galushchenko. The Ministry emphasized tha...

Friday, August 9

Banks have issued ₴4B in loans to restore Ukraine’s energy infrastructure, but medium-sized businesses refuse to construct generation capacity and are preparing for downtime.

Banks have issued ₴4B in loans to restore Ukraine’s energy infrastructure, but medium-sized businesses refuse to construct generation capacity and are preparing for downtime. Since the beginning of June, banks have received 1,356 loan applications for energy infrastructure restoration projects totaling ₴40.1B. The NBU confirmed the approval of applications totaling ₴3.97B ...

Russian Gazprom can use the fighting near Sudzha as a reason to stop gas transit; what consequences will this have for the EU and Ukrainian markets?

Russian Gazprom can use the fighting near Sudzha as a reason to stop gas transit; what consequences will this have for the EU and Ukrainian markets? According to Reuters, there is a risk that Gazprom could use the fighting near the Sudzha gas station, through which Russian gas transits through Ukraine to EU countries, as a reason to stop gas suppl...

Thursday, August 8

The Russian Academy of Sciences predicts the collapse of the aggressor state’s oil and gas economy.

The Russian Academy of Sciences predicts the collapse of the aggressor state’s oil and gas economy. Russia will have to bid goodbye to its “energy superpower” status. Having lost access to Western technologies and key markets for the sale of raw materials, Russia will not be able to retu...

Ukraine will need up to €13B to build a sustainable energy system.

Ukraine will need up to €13B to build a sustainable energy system. Chairman of the Board of Ukrenergo, Volodymyr Kudrytskyi, said that in order to build a power system resistant to possible attacks, Ukraine must build more than 12 GW of capacity in the coming years, ...

The EU increased its imports of liquefied gas from the Russian Federation by 7%.

The EU increased its imports of liquefied gas from the Russian Federation by 7%. Supplies of Russian liquefied natural gas to Europe in the first half of the year increased by 7% compared to last year, with France increasing its imports the most. French companies imported almost 4...

Wednesday, August 7

Businesses account for 80% Ukrainian electricity imports.

Businesses account for 80% Ukrainian electricity imports. Ukrenergo notes that a significant electricity deficit is present for most hours of the day, and the import crossing is almost fully loaded with 1650-1700 MW out of the 1700 MW allowed. 80% of this ca...

Monday, August 5

A British oil giant declares the end of Europe’s energy crisis; Azerbaijan is gradually replacing Russia in the gas market.

A British oil giant declares the end of Europe’s energy crisis; Azerbaijan is gradually replacing Russia in the gas market. Shell CEO Wael Sawan believes that the energy crisis in Europe is finally over. Savan says that this quarter market prices and volatility are returning to the levels seen before the full-scale Russian...

The US and its partners continue to support the reconstruction of the Ukrainian energy industry as winter looms; the import of electricity will cost Ukraine more than $1B.

The US and its partners continue to support the reconstruction of the Ukrainian energy industry as winter looms; the import of electricity will cost Ukraine more than $1B. US Ambassador to Ukraine Bridget Brink said that USAID purchased 18 autotransformers for the Ukrainian power grid. The US is also supporting Ukraine’s intention to resume the construction of add...

This year, gas production in Ukraine may increase by 100-200 million cubic meters.

This year, gas production in Ukraine may increase by 100-200 million cubic meters. Gross gas production in Ukraine in the first half of the year amounted to 9.4 billion cubic meters, and could grow by 100% by the end of the year. This would be 100-200 million cubic meters more than ...

Friday, August 2

Banks have provided ₴3.6B in loans to the energy industry; Japan will help Ukraine build distributed power generation.

Banks have provided ₴3.6B in loans to the energy industry; Japan will help Ukraine build distributed power generation. Since Ukraine’s energy generation capacity restoration programs began, banks have approved loan applications for ₴3.6B. Last week, 20 Ukrainian banks received applications for ₴1.8B under all av...

Thursday, August 1

Europe continues to import Russian LNG; some countries have started buying more.

Europe continues to import Russian LNG; some countries have started buying more. Europe has struggled to eliminate its dependence on Russian liquefied natural gas. In July, the Russian Federation almost became the region’s largest supplier after a reduction in supplies from ...

Ukraine has a plan to resolve the oil transit issue with Slovakia.

Ukraine has a plan to resolve the oil transit issue with Slovakia. Ukraine will guarantee the transit of oil from companies that are not subject to sanctions and is ready to settle the transit issue with Slovakia in accordance with the Association Agreement with the ...

Belgium allocates €9M for Ukrainian energy infrastructure, and Ukraine plans to build the first underground hydroelectric power station.

Belgium allocates €9M for Ukrainian energy infrastructure, and Ukraine plans to build the first underground hydroelectric power station. The Government of Belgium and the United Nations Development Program (UNDP) concluded a €9M financial agreement, which will be directed to repairing Ukraine’s damaged energy infrastructure. Part...

Wednesday, July 31

Hungary and Slovakia’s position regarding Russian oil transit through Ukraine irritates the EU.

Hungary and Slovakia’s position regarding Russian oil transit through Ukraine irritates the EU. In private conversations, EU diplomats have expressed irritation at Hungary and Slovakia’s intentions to use EU procedures to maintain their access to cheap Russian oil, contrary to the blocR...

Monday, July 29

The most challenging period for the energy industry is behind it; the EU is considering increasing Ukraine’s imported electricity.

The most challenging period for the energy industry is behind it; the EU is considering increasing Ukraine’s imported electricity. According to the Chairman of the Board of Ukrenergo, Volodymyr Kudrytskyi, “We have every reason to expect that the most difficult period of the summer in the energy industry is behind us.”...

Lukoil is increasing its oil exports by sea due to the ceasing of transit through Ukrainian territory, and Hungary accuses Ukraine of blackmail.

Lukoil is increasing its oil exports by sea due to the ceasing of transit through Ukrainian territory, and Hungary accuses Ukraine of blackmail. The largest Russian private oil company, Lukoil, has increased oil exports through the country’s seaports, as supplies through the Druzhba pipeline to Slovakia and Hungary are currently suspende...

Friday, July 26

The Ministry of Energy is rushing to restore energy production capacity.

The Ministry of Energy is rushing to restore energy production capacity. The Ukrainian campaign to repair power units in 2024 will be larger than last year, Minister of Energy German Galushchenko said. “Last year, we restored 3.3 GW of destroyed generation. This year...

Thursday, July 25

Hungary is blackmailing Ukraine by blocking €6.5B in military aid due to the cessation of Russian oil transit to the EU.

Hungary is blackmailing Ukraine by blocking €6.5B in military aid due to the cessation of Russian oil transit to the EU. Hungary will block the €6.5B military aid financing program for Ukraine under the European Peace Fund until Ukraine resumes supplies of Russian oil to Hungary, Hungarian Foreign Minister Peter Szijjár...

DTEK names four critical factors for getting through the winter and its plans to restore up to 70% of Ukraine’s damaged generation capacity.

DTEK names four critical factors for getting through the winter and its plans to restore up to 70% of Ukraine’s damaged generation capacity. To get through the next winter, it is necessary to have sufficient air defenses, restore a significant amount of generation, increase electricity import capacity (from 1.7 GW to 2.2 GW or even 2.7 GW)...

Wednesday, July 24

The EIB will approve a €250M support package for Ukraine’s energy sector and allocate another €200M to modernize its public transport.

The EIB will approve a €250M support package for Ukraine’s energy sector and allocate another €200M to modernize its public transport. The government of Ukraine and the EIB are working diligently to prepare new agreements for a €250M support package. “The EIB systematically supports Ukraine in priority area and continues to wor...

Tuesday, July 23

Kuleba tells the EU ministers the five steps for urgent assistance to Ukraine’s energy sector.

Kuleba tells the EU ministers the five steps for urgent assistance to Ukraine’s energy sector. During a meeting of the Council of Foreign Ministers of the EU, Minister of Foreign Affairs Dmytro Kuleba called on Ukraine’s partners to intensify the protection and restoration of the country&...

Ukraine has accumulated 10 billion cubic meters of gas to get through the winter season; Russian strikes will not affect the injection rate.

Ukraine has accumulated 10 billion cubic meters of gas to get through the winter season; Russian strikes will not affect the injection rate. More than 10 billion cubic meters of gas have already been stored in Ukrainian underground storage facilities in preparation for the heating season. This pace of gas accumulation makes it possible to ...

Monday, July 22

Slovakia threatens to suspend the supply of petroleum products to Ukraine over sanctions against Russian Lukoil.

Slovakia threatens to suspend the supply of petroleum products to Ukraine over sanctions against Russian Lukoil. Slovak Prime Minister Robert Fico spoke over the telephone with his Ukrainian counterpart Denys Shmyhal, during which he criticized the inclusion of the Russian company Lukoil, whose oil is also used ...

A large fertilizer producer has built its own 30 MW power generation plant and loaded production at 100%.

A large fertilizer producer has built its own 30 MW power generation plant and loaded production at 100%. Rivneazot has completed the construction of its electricity generation facility, and 100% loading of production capacities has been achieved. The enterprise can now produce up to 30 MW/h of electricit...

The EU will provide Ukrenergo a €100M grant for the energy system’s restoration and protection.

The EU will provide Ukrenergo a €100M grant for the energy system’s restoration and protection. State energy company Ukrenergo and the German State Development Bank KfW in Ukraine signed a €100M grant agreement. It is noted that the EC authorized KfW to direct the funds from the special EU budge...

Friday, July 19

The world’s energy consumption from all sources is increasing.

The world’s energy consumption from all sources is increasing. The Energy Institute (EI) has released its annual World Energy Statistical Review, which for the first time presents comprehensive global energy data for 2023. The analysis showed that: Total primary ...

Thursday, July 18

The EBRD provides €200M to strengthen Ukraine’s energy security and will help increase the number of Ukrainian projects that are ready to attract foreign investment.

The EBRD provides €200M to strengthen Ukraine’s energy security and will help increase the number of Ukrainian projects that are ready to attract foreign investment. €200M from EBRD will support Naftogaz of Ukraine in creating strategic reserves of natural gas and supporting energy security. The corresponding guarantee agreement was signed by the Minister of Finan...

The largest shopping mall in Ukraine and Eastern Europe switches to imported electricity to stabilize its operations.

The largest shopping mall in Ukraine and Eastern Europe switches to imported electricity to stabilize its operations. Against the background of the difficult situation with the country’s energy system, the Respublika Park shopping center switched to using imported electricity. Earlier, the Gulliver shopping cen...

Wednesday, July 17

Ukrainians will have to live with blackouts for a long time: there is a lack of time and money to restore generation.

Ukrainians will have to live with blackouts for a long time: there is a lack of time and money to restore generation. The Economist notes the difficult situation: “There is too little time left and too few billions of dollars needed to install several hundred small power plants, restore bombed-out facilities, o...

Ukraine has increased gas production to a record level; there will be enough fuel in storage for new gas generation.

Ukraine has increased gas production to a record level; there will be enough fuel in storage for new gas generation. In six months, state company Ukrgazvydobuvannya set another record for gas production with 6.9 billion cubic meters of commercial gas, which is 8.8% more than in the same period last year. According t...

Tuesday, July 16

The construction of one GW of power generation will cost $700M, and Ukraine needs to attract international financing for energy projects.

The construction of one GW of power generation will cost $700M, and Ukraine needs to attract international financing for energy projects. “Investment projects for the construction of one GW of electricity will cost from $700M using gas piston or gas turbine technologies and up to $1.5M for, for example, wind power,” said Osc...

Monday, July 15

Ukrenergo will purchase electricity from businesses investing in distributed generation.

Ukrenergo will purchase electricity from businesses investing in distributed generation. State company Ukrenergo will buy electricity in advance from businesses building distributed generation facilities, even those under construction, said Chairman of the Management Board Volodymyr Kudry...

DTEK Renewables has prolonged its green Eurobond payments and received support for constructing the second stage of the Tyligulska wind farm.

DTEK Renewables has prolonged its green Eurobond payments and received support for constructing the second stage of the Tyligulska wind farm. DTEK Renewables Finance B.V. successfully negotiated with its investors, and they agreed to extend payments on green Eurobonds for three years – from November 2024 to November 2027. The bondholders al...

Tuesday, July 9

Ukraine has lost the capacity of Europe’s largest nuclear power plant for a decade.

Ukraine has lost the capacity of Europe’s largest nuclear power plant for a decade. The Zaporizhia nuclear power plant will be able to be restarted only seven to eight years after liberation, as it depends on the reconstruction of the Kakhovka hydroelectric power plant, said Prime Mi...

Poland is ready to produce electricity for Ukraine at its TPPs.

Poland is ready to produce electricity for Ukraine at its TPPs. Polish Prime Minister Donald Tusk proposed using Polish coal-fired power plants to generate energy for Ukraine’s needs. “Currently, we are working to burn Polish coal, which we currently h...

Monday, July 8

Ukraine, Moldova, and Romania are developing energy security guarantees for Ukraine and Europe.

Ukraine, Moldova, and Romania are developing energy security guarantees for Ukraine and Europe. According to a joint statement from the three heads of foreign affairs, the countries plan to increase the capacity of the Trans-Balkan gas route as part of the vertical gas corridor, including develo...

The war is accelerating Ukraine’s transition to renewable energy sources.

The war is accelerating Ukraine’s transition to renewable energy sources. By continuously attacking Ukraine’s energy sector for two years, Russia has inadvertently accelerated the country’s transition to ecologically friendly energy sources. Due to Russian airst...

Ukraine can produce up to 10 billion cubic meters of biogas annually if $20B is invested in the industry.

Ukraine can produce up to 10 billion cubic meters of biogas annually if $20B is invested in the industry. The head of the Ministry of Agrarian Policy, Taras Vysotskyi said: “Ukraine can potentially produce up to 10 billion cubic meters of gas per year from available waste, but this would require a f...

Ukrnafta received applications from six foreign companies for the joint development of 15 fields.

Ukrnafta received applications from six foreign companies for the joint development of 15 fields. Ukraine’s largest oil and gas mining company, Ukrnafta, received a letter of intent from six companies regarding the joint development of 15 fields out of the 21 it had proposed for investment i...

Friday, July 5

Russia seeks to maintain gas transit to the EU through Ukraine, but Kyiv is against it, although several EU states are interested.

Russia seeks to maintain gas transit to the EU through Ukraine, but Kyiv is against it, although several EU states are interested. Russia wants to continue supplying gas to the EU through Ukraine’s gas transport system after the current transit contract expires at the end of the year, Russian Deputy Prime Minister Oleksandr...

Despite the war, Piraeus Bank continues to show long-term dedication to Ukraine by supporting the rebuilding of energy infrastructure.

Despite the war, Piraeus Bank continues to show long-term dedication to Ukraine by supporting the rebuilding of energy infrastructure. Piraeus Bank joined 17 leading financial institutions by signing a memorandum in Kyiv on bank lending for rebuilding energy infrastructure projects in the war-torn country. This pivotal step reaffirms...

Ukraine is building only 20% of the declared 1 GW energy maneuvering capacity.

Ukraine is building only 20% of the declared 1 GW energy maneuvering capacity. Energy experts have estimated that currently, Ukrainian cities are building at most 20% of the 1 GW of maneuvering energy capacity recently announced by Ukraine’s president. Currently, about 150...

Thursday, July 4

Ukrnafta will receive a loan from the EBRD and invest $1B in constructing power plants to become a multi-energy company.

Ukrnafta will receive a loan from the EBRD and invest $1B in constructing power plants to become a multi-energy company. Ukrnafta CEO Serhiy Koretskyi said that the company plans to build gas piston installations with a capacity of at least 1,000 MW. For this, the company will use its own funds and borrow funds from Ukr...

Wednesday, July 3

DTEK Renewables will pledge the largest solar plant in Ukraine as €325M in Eurobond collateral.

DTEK Renewables will pledge the largest solar plant in Ukraine as €325M in Eurobond collateral. DTEK Renewables Finance B.V., a member of the DTEK group, is asking Eurobond owners for €325M to postpone their repayment for three years (until November 12, 2027), the company reported on the Irish S...

Friday, June 28

Ukraine will install up to 1 GW of gas-fired distributed generation urgently, and DTEK Energy will direct all funds to restore TPPs.

Ukraine will install up to 1 GW of gas-fired distributed generation urgently, and DTEK Energy will direct all funds to restore TPPs. It is realistic to install up to 1 GW of gas-fired power generation in Ukraine, according to Deputy Minister of Energy Mykola Kolisnyk. “Several tens of megawatts have already been installed, an...

Regions of Ukraine are becoming energy-independent: a waste incineration plant for electricity production will be built in Odesa, and 10 gas power plants will be installed in Transcarpathia.

Regions of Ukraine are becoming energy-independent: a waste incineration plant for electricity production will be built in Odesa, and 10 gas power plants will be installed in Transcarpathia. The Odesa City Council approved the development of a land management project for the allocation of a 4-hectare plot of land to the municipal enterprise “Heat Supply of the City of Odesa” f...

Thursday, June 27

The government has approved an energy development plan that is required to join the EU.

The government has approved an energy development plan that is required to join the EU. The Cabinet of Ministers approved the National Energy and Climate Plan (NECP) for the period until 2030. The plan coordinates environmental, energy, and economic policies for Ukraine’s sustainab...

How do Ukraine’s strikes on refineries affect the aggressor’s oil refining capacity and budget?

How do Ukraine’s strikes on refineries affect the aggressor’s oil refining capacity and budget? In May, the Russian government’s subsidies to its gasoline producers increased to ₽202B ($2.5B), and the amount keeps growing. Russian authorities are forced to pay these costs to curb the rise ...

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