The agreement is unique,
firstly, because it’s the biggest credit issued by EBRD to the energy
sector of Ukraine. Secondly, it’s important because Europe has been
assured of effectiveness of the Ukrainian government’s actions after
the project of modernization of block number 2 at Khmelnytska NPP and
number 4 at Rivne NPP.
The project was
financed by two powerful institutions, EBRD and Euroatom, is
an international organization that
had been originally founded to create a market for nuclear
power in Europe. This partnership
demonstrates Ukraine’s great degree of responsibility and its status
as a reliable long-term partner.
The signing of credit
agreement between EBRD and state Energoatom, without exaggeration, is
a landmark event. The project will be conducted along the lines of
the 2011 government-approved Complex Program for Improvement of
Safety at Nuclear Power Plant Blocks in 2012-2017.
After the signing of
the document, EBRD’s Director for Ukraine André Küüsvek
said that, for the EBRD cooperation in the energy
sector with our country is extremely important. He also said that
improvements will allow to improve Ukraine’s competitiveness and
effectiveness of energy services. Küüsvek also offered EBRD’s
support in finishing the development of the energy strategy for
Ukraine.
Currently, the EBRD is the
biggest financial investor in Ukraine. By January this year, the bank
committee 8.2 billion euro to 318 joint projects in Ukraine.
Implementation of the Complex Program for Improvement of Safety at
NPP Blocks will bring Ukraine in line with international nuclear
safety standards established by MAGATE.
The program is valued at
1.245 million euro, and EBRD and Euratom will contribute 600 million
each. The credit will have to be paid off within 15 years.
The last (but not least)
point to make is that Ukraine is heading towards energy independence,
a policy that is valued greatly in Europe. The world experience
demonstrates that reduction of production cost of energy sources,
combined with maximum safety of production, is today an important
strategy in the face of a world crisis.
The accident at
Japanese Fukushima NPP in 2011 has given a
push in the European community towards a different set of priorities
in the energy sector. It’s very important that leaders of European
nations have agreed to be equal partners in contributing to energy
security in our country as well.
Europe is showing great
interest in development of shale gas in Ukraine. A joint project with
Royal Dutch Shell to develop energy from alternative sources in
Yuzivska field in eastern Ukraine, as well as development of other
fields, will enable us to have a real breakthrough in the energy
sector in the coming years.
Gradually, Ukraine will be
able to not only minimize import of the blue fuel from Russia, but
also become a reliable exporter itself.
Eduard Stavitsky is the minister of fuel and energy of Ukraine.
