The II Ukrainian Gas Investment Forum took place on March 23, 2017 in Kyiv
The II Ukrainian Gas Investment Forum focused on attracting investments to the Ukrainian gas sector was held on March 23, 2017 in Kyiv. Forum Organizer – A7 CONFERENCES, Co-organizer – International law firm Dentons, Strategic Partner – Association of Gas Producers of Ukraine, Energy Partner – DTEK, Partner – ENGIE, Partner – Arab Energy AllianceUA, Partner – Regional Gas Company, Official Carrier – Turkish Airlines, Investment Partner – A7 CAPITAL.
Forum for the second time was a communication platform for open public debate and brought together key players of the Ukrainian gas sector, international financial institutions, professional associations, foreign embassies and major media to discuss the current situation and prospects of the sector and the transition to a new level of the gas market development.
The relevance of the conference is due to the ongoing development and growth of the gas market of Ukraine which opened the key themes of the event such as strategy of gas production development in the context of energy security of Ukraine, recent reforms and their effects, changes in legislation and the benefits they offer for Ukrainian companies and international partners, key aspects of the production and sale of gas in Ukraine, investment opportunities and financing of the sector and others.
Participants had a unique opportunity to expand the network of international partners, to exchange ideas and experiences during personal meetings with potential institutional and private investors, and communicate with colleagues in the course of the formal and informal parts of the event.
Volodymyr Kistion, Vice Prime Minister of Ukraine, said: “Special attention is given to implementation of the Concept of Ukraine gas production by 2020, which has a key goal to reduce dependence of our country on gas imports and, consequently, increase energy security. The main task of gas producing companies by 2020 is to reach 27 billion cubic meters of the Ukrainian gas production, 20 of which produce a state company “Ukrgasvydobuvannya”. The Government will contribute to creating an attractive investment environment in order to attract international expert assistance in the development and improvement of the legal framework in the field.”
Roman Opimakh, Executive Director, Association of Gas Producers of Ukraine, commented: “What do investors need in order to start investing in gas production? Bold decisions, namely the implementation of already approved plans: the introduction of tax incentives, deregulation of the permitting system and the modernization of the rules for the use of mineral wealth. It is the arrival of investments and technologies that are the key to rapid progress and improvement of the people’s well-being, that’s why today everyone – from developed to developing countries – is struggling to attract international capital.”
Oleksandr Dombrovskiy, Head of the Parliamentary Committee on Fuel and Energy Complex, Nuclear Policy and Nuclear Safety, Verkhovna Rada of Ukraine, mentioned: “On March 21, 2017 the Verkhovna Rada of Ukraine in the first reading adopted the draft Law №5370 which will enable us to initiate certain legal procedures for energy resources that have been lost due to the annexation of the Crimea and will allow to protect “Chernomorneftegaz” as a legal entity that owns assets, including licensing that should be used. One of the key challenges that we currently face with is the reform of “Naftogaz”, in particular the separation of transportation of natural gas extraction. It is also important to attract investors for the modernization and preservation of the gas transportation system of Ukraine. The Committee cooperates with Association of Gas Producers of Ukraine. Indeed, in a country it is absolutely necessary to create a system of motivation and to remove all barriers that stand in the way of an increase in natural gas production. We go by the decision of key tasks – increasing the energy security of Ukraine, and move forward together with the Government and with market participants.”
Frederik Roose Øvlisen, Senior Economist, Studies and Planning, Ramboll Oil & Gas, said: “The situations for Ukraine and for Poland are comparable. Both countries serve as transit for Russian gas. The “Baltic Pipe” project, that connects Norwegian gas export via Denmark to Poland with a 10 bcm/year capacity, will allow Ukraine to import Norwegian gas. It should be operational by 2022″.
Andy Hunder, President, American Chamber of Commerce in Ukraine, pointed out: “For Ukrainian energy sector’s long-term well-being we need leadership and responsibility. Eliminating barriers for doing business and implementing structural reforms in energy sector is vital to achieve Ukraine’s energy independence and attract foreign investors.”
The materials and video of from the conference are available on the website: www.a7conf.com/gas17/en