UGIC creates partnerships in Ukraine’s gas sector

• First ever Ukraine Gas Investment Congress kicks off in Kyiv, hosted by Naftogaz and held under the patronage of the Ministry of Energy
• High-level business and political leaders gathered on Day 1 to discuss transformations in Ukraine’s gas sector and their importance for Europe’s energy security; International investors, energy executives and innovators explored investment and partnership opportunities in Ukraine’s exploration and production (E&P) potential
• At the conclusion of Day 1, Naftogaz signed memorandums of understanding with foreign companies including with Dragon Oil from the United Arab Emirates, Azerbaijan’s SOCAR AQS, and US-based Helmerich & Payne, Inc. (“H&P”) as well as 3 Seas Energy.

The first-ever Ukraine Gas Investment Congress was launched today in Kyiv, as Ukraine looks to attract international investors and partners for its ambitious goals of achieving net-zero natural gas imports within 5 years and carbon neutrality by 2040.

Hosted by Naftogaz, under the patronage of Ukraine’s Ministry of Energy, the Congress was opened at a ceremony for ministers and senior figures from across the gas value chain. With a backdrop of European energy security challenges, the event’s opening day outlined ongoing transformations in Ukraine’s gas sector and provided a platform for government ministers, energy industry leaders, investors, and technology innovators to examine unique opportunities to develop Ukraine’s gas resources.

In his opening keynote remarks, Naftogaz CEO Yuriy Vitrenko said: “Europe needs reliable sources of energy at affordable prices. Ukraine’s robust infrastructure and strategic location will play a key role in Europe’s energy supply during this transition period.”

On Day 1, speakers included George Niculescu, Secretary of State at Romania’s Ministry of Energy, and Roman Opimakh, Chairman of Ukraine’s State Service of Geology and Mineral Resources. High-level business leaders including Maxim Timchenko, CEO of DTEK, and Yuriy Vitrenko, CEO of Naftogaz, also participated in panel discussions on Ukraine’s energy future.

Maxim Timchenko, CEO of DTEK, said: “Public-private partnerships and a positive investment environment will be key to achieving energy independence and driving technological innovation, which are important for our European integration. Recent developments in Europe show that gas continues to play a crucial role.”

In the morning sessions, Sergiy Makogon, CEO of the Gas Transmission System Operator of Ukraine (GTSOU), Dr Janez Kopač, Director of the Energy Community Secretariat, and others examined how Ukraine’s rich gas reserves and vast gas transit and storage infrastructure can strengthen Europe’s energy security and support the continent’s energy transition.

Participants in the subsequent sessions identified long-term opportunities to unlock the exploration and production potential of Ukraine’s rich gas reserves, as well as how global energy investors are factoring Ukraine into their portfolios. Speakers included Anthony Marino, President and CEO of Tenaz Energy, David Martinon, CEO of Expert Petroleum, and the World Bank’s Charles Cormier.

The first day of the inaugural Ukraine Gas Investment Congress concluded with a signing ceremony for a series of Memorandums of Understanding between Naftogaz of Ukraine and a number of foreign companies including Dragon Oil from the United Arab Emirates, Azerbaijan’s SOCAR AQS, and US-based Helmerich & Payne, Inc. (“H&P”) as well as 3 Seas Energy.

Jean-Philippe Cossé, Vice President of dmg events, the Congress organiser, said: “It is an honour to be a part of the first ever Ukraine Gas Investment Congress. We’re looking forward to digging deeper into Ukraine’s gas landscape and the myriad opportunities available to investors in the sector’s modernisation and resource base development.”