Ukraine needs energy ceasefire, as humanitarian catastrophe looming – DTEK CEO in Davos
DTEK energy holding company CEO Maksym Timchenko said that an energy ceasefire is necessary to avoid a humanitarian catastrophe caused by Russian shelling, Reuters reports.
"We need an energy ceasefire. A ceasefire on the energy assets,” Timchenko said. “How can you talk about peace and (keep) attacking people, and knowing that people are freezing? How can these things go in parallel?”
Ukraine has endured two weeks of temperatures between minus 15 and minus 20 degrees Celsius, he said, with Russia striking gas transportation, storage and production facilities.
Russia says it is targeting military and energy infrastructure used in the interests of Ukraine's armed forces.
"We are close to a humanitarian catastrophe," Timchenko said. "People get power for 3-4 hours, then a 10- to 15-hour break. We have apartment blocks without heat for weeks already."
He said Ukraine was holding on thanks to gas imports, including from the United States, as attacks had forced gas, coal and hydropower plants to run below capacity.
DTEK has lost 60–70% of its generating capacity and suffered damage worth hundreds of millions of dollars, he said.
Timchenko said rebuilding the energy sector would cost $65–70 billion, citing World Bank estimates, and in many cases would require entirely new assets.
"We are talking rather about building a new energy system in Ukraine rather than just reconstruction," he said.