Ukraine and the European Union have signed the seventh joint report on the implementation of the Memorandum of Understanding on cooperation in the energy industry for 2012.

The signing took place within the framework of the 16th EU-Ukraine Summit in Brussels.

The report was signed by the EU Commissioner for Energy Gunther Oettinger and energy and coal industry minister of Ukraine Eduard Stavytsky.

The seventh joint report outlines the results, reached by the parties since October 2011 till the present time.

As a reminder, Ukraine and the EU signed the Memorandum of Understanding on cooperation in the energy sector on December 1, 2005.

The Memorandum defines the ways of cooperation between the two parties on the approximation of their energy markets.

The Memorandum also sets the overall strategy of gradual integration of the energy market of Ukraine in the EU energy market and is made up of the "road maps", which cover nuclear safety, integration of electricity and gas markets, security of energy supply and transit of hydrocarbons and coal industry.

Since early March 2008, the Memorandum also includes the fifth "road map", which aims at enhancing cooperation in the field of energy efficiency and renewable energy sources.


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