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Decision concerning Nord Stream 2: the final victory still needs to be fought for

18 May 2020The decision of German regulatory authority, BNetzA, concerning the legal framework in which Nord Stream 2 can operate represents an interim victory of Ukraine.

How steady is the trend of declining fuel prices?

15 April 2020Pricing in Ukraine’s retail market for petroleum products draws close attention from both consumers and public authorities. Telling facts in this sense are meetings of the President with representatives of filling station chains or the AMCU’s in-depth analysis of actions of petroleum products market participants, which the agency started in January of this year.

Oil producers unite before the danger of "execution"

13 April 2020If implemented, the preliminary agreement of OPEC+ countries will allow to somewhat stabilize oil prices in the nearest few months, but it remains to be seen whether it will restore the balance of demand and supply in the market.

Roman Nitsovych

EIA: a problem or an indispensable element of sustainable development?

10 April 2020Back in 2016, the Verkhovna Rada of Ukraine passed the Environmental Impact Assessment Law. From the very beginning, the implementation of this legislative act has bumped into obstacles: the law was vetoed after an appeal by the Association of Pig Breeders of Ukraine, whose representatives believed that it would bring their industry to a standstill. Only eight months later, after taking into consideration proposals from the President, has this Law been upheld in the parliament and signed.

Coronavirus and systemic imbalances of the electricity market

09 April 2020Today’s crisis in the electricity market is not just a concurrence of circumstances caused by a seasonal factor and by quarantine restrictions. These factors vividly illustrated, and stretched almost to its limits, the vulnerability of the system in which Ukraine’s electricity market functions in its present form.

Bohdan  Serebrennikov

A “perfect storm” in the oil market

08 April 2020Today’s situation in the global oil market is a “perfect storm” for oil producing countries, but for countries importing petroleum products, it presents an opportunity to stock oil on the cheap.

Roman Nitsovych

A gas “supermarket”

01 April 2020On 1 May, Ukraine may become one step closer to a competitive gas market. At least, the government declared the intention not to prolong the Regulation on Placing Special Obligations (PSO) in the gas market, which regulates prices for households and heat generating companies.

Quarantine as a “window of opportunity”

26 March 2020Against the background of other states where the coronavirus pandemic is raging, restrictive measures in Ukraine are still not very severe, although the government has introduced the state of emergency. The transfer of the majority of personnel to remote work and the weakening of inspections surely pose risks for individual businesses, but the power system is stable. Therefore, the primary task for the government and the critical infrastructure operating companies still remains to protect workers and maintain process control.

Roman Nitsovych

GTS operator actively develops new products and services

19 March 2020Since January, Gas TSO of Ukraine LLC (GTSOU) has not only been separated from Naftogaz but has also launched a new short-haul service. Its essence is that European energy companies can reserve the capacity of the Ukrainian GTS for a “short” gas transit from one country to another.

A “general plan” for Ukraine’s power system

16 March 2020Recently, the Ukrainian regulatory agency (NEURC) has approved the report on assessing conformity (sufficiency) of generating capacities, prepared by Ukrenergo NPC. This is an unordinary event indeed, because it was the first time when such a strategic document was approved. All of its previous versions starting from 2017 had the status of project.

Roman Nitsovych

Gazprom may finance energy efficiency in Ukraine

19 February 2020The allocation of US 2.9 billion paid by Gazprom under Stockholm arbitration ruling to finance energy efficiency may become an excellent initiative.

Bohdan  Serebrennikov

A “green” chance for Ukraine

28 January 2020Overall, the draft Concept of Ukraine’s "green" energy transition until 2050, proposed by the Ministry of Energy and Environmental Protection, looks quite ambitious, balanced, and conformant with today’s European and global energy and economic transformation trends.

Bohdan  Serebrennikov

New Reality of Gas Transit

17 January 2020On January 1, a new reality came – the new TSO of Ukraine continued the transit of Russian gas. It is a whole package of agreements by which NJSC Naftogaz of Ukraine, Gas TSO of Ukraine and Gazprom regulated the continuation of transit. Ukrainian negotiators convince of victorious results, while the agreements themselves remain under the guise of confidentiality. What do we have in the final analysis? The SWOT analysis will help understand the new arrangements.

Roman Nitsovych

"Green tariffs" and the load on the electricity market

08 December 2019In Ukraine, the existing "green" tariff mechanism and the obligatory buyout of the entire electricity output produced from renewable energy sources is legislatively embedded.

Bohdan  Serebrennikov

Power grid connection fees lowered

28 November 2019The National Energy and Utilities Regulation Commission (NEURC) lowered the power grid connection fees for 2020. This news is positive for large players only, though.

Andrii Bilous

The "unbundling law" concerns not only the gas transmission system but also power grids and gas storages

22 November 2019A comprehensive approach to reforms of the electricity and gas markets can only be welcomed. It’s a pity it took so long for changes to materialize, though.

Roman Nitsovych

A strategy to overcome energy poverty is needed

06 November 2019While presenting the draft budget for 2020, Yuliya Sokolovska, Minister of Social Policy, stated that the government did not change the criteria for the allocation of subsidies, nor did it intensify checks on applicants’ revenues. Similar statements are made by government officials certifying their inability to offer the public a long-term strategy to overcome energy poverty.

Sergii Balan

The government should open the essential terms and conditions PSAs once they are signed

01 November 2019As soon as production sharing agreements are signed between the government and the tender winning companies, the essential terms and conditions of the agreements should be made public.

Olena Pavlenko

The effect from the government’s decision concerning imports from Belarus and Russia

07 October 2019After the launch of a new market, retail electricity prices for various consumer categories went up by 5-30%. Therefore, the government’s recent decision concerning imports from Belarus and Russia may produce a certain positive effect in a short term, first of all, for large consumers. Development of competition and the strengthening of consumers have been, and still are, some of the key goals which reform of the domestic electricity market had to attain. In turn, these factors had to result, via the action of market mechanisms, in optimization of prices, increasing quality and reliability of power supply. But for that to happen, certain conditions are needed which we actually don’t have and are not going to have anytime soon with our internal generating capacity. In addition, the rapidly growing renewable energy segment is one of the factors destabilizing the new market. Due to the effect of a relatively high "green" tariff and low controllability of renewable energy generating capacities, it may only aggravate the situation and increase physical and financial imbalances of the market.

Bohdan  Serebrennikov

Separation of the GTS operator

26 September 2019During the talks, the Russians have not only been introduced to the future GTS operator but were also given the roadmap for the completion of unbundling process

Roman Nitsovych

Ukraine needs an own version of gas contract, and not just with terms

02 September 2019Contracts signed under duress have always contained threats for the party forced to sign them. The existence of an own vision of cooperation laid down on paper allows to minimize this risk.

Olena Pavlenko

Does Europe hear us? And do we hear it?

23 August 2019Do journalists, politicians and experts in EU states talk about the role of Ukraine in Europe’s energy sector? Did they discuss all risks for the EU from the construction of Nord Stream 2?

Olena Pavlenko

Attracting quality investors in the Ukrainian oil and gas sector

29 July 2019This year, the government launched a tender for entering into a production sharing agreement (PSA) for the Dolphin oil and gas site on the Black Sea shelf. Only four proposals were received for two months from Caspian Drilling International Ltd., Frontera, Trident Black Sea and Ukrnaftoburinnia PrJSC. The interagency commission could not decide on the winner of the tender until Azerbaijani Caspian Drilling International Ltd. has withdrawn from the tender. After that, Trident Black Sea owned by Ilya Ponomarev, former member of the Russian Duma, was announced a winner. The results of the tender for Dolphin development were criticized by the Association of Gas Producers of Ukraine. And Volodymyr Groysman, Prime Minister, said he would propose to conduct the tender anew as he hoped for a more representative and competitive tender. So how should you find reliable investors in the gas production sector? The main characteristics that should be taken into account when the state enters into an agreement with an investor for 50 years.

Olena Pavlenko

Ukrainian natural resources: reforms to be continued

11 April 2019The increase of own oil&gas production is not only a contribution to energy security of Ukraine, but also an opportunity for the development of economy, of the own energy market. This fact becomes more and more obvious, however only in recent years significant steps have been taken to implement this strategic course.

Roman Nitsovych

Prospects For Achieving Energy Independence In Terms Of Gas Industry

24 January 2019Nowadays energy security is one of the most important priorities of Ukraine, with natural gas market included. Current gas imports covered by the domestic gas production capacity will allow Ukraine to be independent from the export market conditions, significantly decrease the currency market pressure, and get rid of the Russian Federation’s black marketeering.

Taras Tkachuk
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Weekly analytical report 9 – 14 June, 2020

17 June 2020 року

In this issue: The government financial policy concerning Naftogaz may significantly reduce the company’s...

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