Ukraine and Turkey to Cooperate on Energy

KYIV, Ukraine, February 16, 2012 /PRNewswire/ --

Turkish energy officials along with their Ukrainian colleagues signed a protocol on bilateral cooperation on joint energy projects. The parties agreed to further collaboration on energy exports, gas, and implementation of the Ukrainian National Project of constructing a new terminal for liquefied natural gas on the shore of the Black Sea.

The protocol was signed during the official visit of the Turkish delegation, which included the representatives of the Turkish companies BOTAŞ and EÜAŞ and was headed by the Minister of Energy and Natural Resources of Turkey Taner Yıldız. The Ukrainian delegation included the Minister of Energy and Coal Industry of Ukraine Yuriy Boyko and representatives of the national oil and gas company of Ukraine NJSC NaftogazUkrainy. "I am sure the agreements we have by now will be put to life within a year," said Minister Boyko after the meeting.

The Head of Ukrainian National Projects Vladyslav Kaskiv noted that new agreements with Turkey would help Ukraine ensure its energy security. Speaking of energy security, Minister Yıldız emphasized that Turkey was thankful to Ukraine for providing Turkey with extra gas (11 million cubic meters) this winter: "[That's when] we realized that help had been only a phone call away. This will not be forgotten."

According to Vladyslav Kaskiv, a bipartite technical group is currently working on implementing Turkish-Ukrainian energy cooperation plans.

On January 13, 2012, Ukraine reportedly began negotiations with Turkey concerning gas supply via an alternative route. A year prior - in January of 2011 - energy ministries of the two countries signed a Memorandum of understanding in energy sector.

In November of 2011, Ukraine presented its National Projects at the road show in Turkey. The presentation took a form of an investment conference "Ukraine: The Best Investment Opportunities". A series of similar events took place in 16 world financial centers, including Frankfurt am Main and New York. Prospective investment projects focus on four sectors: New Energy, New High-quality Infrastructure, New Quality of Life, and Olympic Hope 2022. Investment packages presented to businessmen around the world included LNG-Terminal, Energy of Nature, Olympic Hope 2022, Clean City, New Life, and Open World.