19:06 30.07.2020

Energy Community Secretariat, Ukraine's Energy Ministry, EBRD, Ukrainian Energy Exchange sign memo on gas market development

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Energy Community Secretariat, Ukraine's Energy Ministry, EBRD, Ukrainian Energy Exchange sign memo on gas market development

A Memorandum of Understanding between the Energy Community Secretariat, the Ministry of Energy of Ukraine, the European Bank for Reconstruction and Development (EBRD) and the Ukrainian Energy Exchange has been signed today.

"The Memorandum aims to support the restructuring of the Ukrainian gas sector in line with EU legislation to enable competition and deliver benefits to Ukrainian energy consumers and the wider economy," the Energy Community Secretariat said in a statement on its website on Thursday.

The agreement provides the general framework and conditions for cooperation to support the establishment of a natural gas exchange based on the Ukrainian Energy Exchange.

The first meeting under the framework of the Memorandum is scheduled to take place in September 2020 and is set to agree concrete actions on the way forward.

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