During its visit to Kyiv EuroCommission delegation considered investment projects for Ukraine's oil-gas sector, the Fuel and Energy Ministry press service reported. The projects are supposed to be financed at the expense of loans from European financial institutions. On Thursday a meeting was held in Kyiv of the Working Group in charge of drafting such projects. The Working Group's establishment ensued from the Memorandum on understanding between Ukraine and the EU.

The session was attended by the EuroCommission delegation, led by Faouzi Bensarsa, as well as EBRD, European Investment Bank representatives and senior executives of the Naftogaz Ukrainy and UkrTransNafta. Deputy Fuel and Energy Minister Serhiy Titenko led the Ukrainian delegation to the session.

The EuroCommission representatives noted Ukraine's progress in implementing the Memorandum's provisions. “We are moving toward the Ukrainian energy sector's full-scale integration with that of Europe,” Faouzi Bensarsa noted. He hailed Prime Minister Viktor Yanukovych's statement the day before, which he made at the Economic Forum in the Polish town of Krynica Gorska and which stressed the need for stepping up the Odesa - Brody pipeline's extension to Plock.

During the session problems were discussed of integrating Ukraine's and Moldova's energy systems with Europe's UCTE, Ukraine's involvement in the TransCaspian Gas Transportation Project and the NABUCCO program.

The said memorandum was signed on December 1, 2005 by President Viktor Yushchenko, EuroCommission President Jose Manuel Barroso and Prime Minister of Great Britain Tony Blair. The document outlines joint strategies for such areas as nuclear safety and security, the energy market, enhancing security and safety in transporting carbohydrate fuels, enhancing environmental safety standards in coal mining.


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