On August 16, the Chamber Energy Committee met with Igor Nasalyk, Minister of Energy and Coal Industry of Ukraine, in the framework of the Memorandum of Cooperation to discuss current issues in the energy sector.
According to the Minister, the energy policy of Ukraine will be implemented pursuant to New Energy Strategy which is now pending approval of the Cabinet of Ministers of Ukraine. The Ministry of Energy and Coal Industry of Ukraine will ensure development of legislation and other legal acts for implementation of the Strategy.
Mr. Igor Nasalyk confirmed his support of the Draft Law #3096-d, aimed at elimination of some problematic aspects of land use for purposes of oil & gas sector, and the Draft Law #6229 on ensuring the Extractive Industries Transparency Initiative requirements implementation. He also expressed his readiness to foster development of a state program on transfer to new gas quality standards under the Code of Gas Transmission System.
Due to the recent establishment of the Coordination Center for introduction of new electricity energy market under the Cabinet of Ministers of Ukraine, the Minister of Energy and Coal Industry of Ukraine encouraged business community representatives to participate in working groups on development of secondary legislation in this area.
The Chamber emphasized two major challenges in the upstream sector: necessity to develop a new Subsoil Code, based on the best international practice, providing transparent and fair competition at the market and safe environment, and adoption of a modern stable taxation system.
Among other issues discussed at the meeting were increase of renewable energy sources, illegal petrol retail market, readiness for the new heating season, Naftogaz unbundling process etc.
The Minister marked high energy potential of Ukraine and encouraged to invest in upstream industry and renewables. We appreciate Ministry’s openness to the constructive dialogue with the business community and looking forward to further cooperation.