On November 28, 2011, the EU-U.S. Energy Council met in Washington DC to review progress achieved on strategic energy issues, during which the United States and the European Union pointed out Ukraine's significant role in Europe’s energy security.
"The EU and the U.S. welcome Ukraine’s accession to the Energy Community on 1 February 2011, its significant role in Europe’s energy security, and its important steps towards increasing its trade and economic ties with Europe," reads the joint statement of the EU-U.S. Energy Council.
"The Energy Council recognizes the urgency of Ukraine implementing the reforms in its gas sector that would permit the International Financial Institutions and the private sector to invest in the modernization of the gas transit system, including the long promised internal gas price reform to put Naftohaz Ukrainiy on a path to cost recovery and a more sustainable financial footing," the document says.
According to the statement the Energy Council further urged Ukraine to adopt appropriate production sharing legislation and policies, to attract international investment in the development of Ukraine’s conventional and unconventional energy resources in a responsible and efficient manner, as well as promoting energy efficiency and renewable energy resources.
"The EU and the U.S. welcome Ukraine’s accession to the Energy Community on 1 February 2011, its significant role in Europe’s energy security, and its important steps towards increasing its trade and economic ties with Europe," reads the joint statement of the EU-U.S. Energy Council.
"The Energy Council recognizes the urgency of Ukraine implementing the reforms in its gas sector that would permit the International Financial Institutions and the private sector to invest in the modernization of the gas transit system, including the long promised internal gas price reform to put Naftohaz Ukrainiy on a path to cost recovery and a more sustainable financial footing," the document says.
According to the statement the Energy Council further urged Ukraine to adopt appropriate production sharing legislation and policies, to attract international investment in the development of Ukraine’s conventional and unconventional energy resources in a responsible and efficient manner, as well as promoting energy efficiency and renewable energy resources.
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