Contact:
Gennadi Silbermann
Phone: +49(0)30 81003246
E-Mail: g.silbermann@silvercomm.eu
- energy
- investments
- transparency
- EU
| Pressbox | 
|
Brussels (pts012/19.11.2010/10:00) - One of the questions at the EU-Ukraine Summit on 22nd November will touch upon the provision of transparency on the Ukrainian energy market. According to recent information, issues such as the necessity of attracting foreign investments into Ukraine's heat and energy systems will be raised, and more specifically, ensuring financial security to those private companies who are willing and capable of developing and maintaining the gas and oil business in Ukraine.
This issue becomes even of a more eminent nature seen in the light of the newly adopted energy strategy from 10th November. EU Commissioner for Energy, Günther Oettinger stated that over the next ten years, overall energy infrastructure investments in the EU of 1 trillion Euro are needed. One of the major priorities of the strategy is to improve security and stability of gas and oil supply. The Commissioner further said that "Putting our energy system onto a new, more sustainable and secure path may take time but ambitious decisions need to be taken now."
James Wilson, Founding Director of the EU-Ukraine Business Council in Brussels welcomes Ukraine's imminent participation in the European Energy Community as a full member, as this will integrate Ukraine's energy market with Europe's in respect of competition, standards, rules and set Ukraine's energy market on the course of safe and ecological development, adding that "European investors will certainly support any efforts made by Ukrainian President Viktor Yanukovich to increase the transparency of the energy market and secure a level playing field for all investors."
It is obvious that Ukraine has now undertaken the first steps on its way to being a reliable partner in the European Energy Community. As a matter of fact, on the same day as the energy strategy was adopted, a legislation stamping out preferential import schemes and forbidding companies to import crude and fuel without paying any excise and VAT entered into force by the Kharkov administrative court of appeals.
As estimated by the European Business Association (EBA) in Kiev, in just three months 810.000 tons of motor fuels and 330.000 tons of crude oil have been imported into Ukraine under a preferential, discriminating scheme for foreign investors. If Kiev had not put a stop to such schemes, by the end of the year 70% of the whole fuel market in Ukraine would have bypassed customs and cost the State budget of the country up to $400 million.
Observers from the EU are convinced that the abolishment of non-transparent and shadow schemes on the market for crude and fuel is merely the first step in the larger battle against smuggle of energy supplies.
More information: http://www.euubc.com
Contact:
Silvercomm
Gennadi Silbermann
Tel: +49(0)30 81003246
g.silbermann@silvercomm.eu
|
|
