: :inin Kyiv (EET)

G7 ready to support Ukraine`s energy sector

The Energy Ministers of the G7 member states, namely Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States announce their support of Ukraine`s energy policy reforms.
”We welcome the substantial energy policy reforms ongoing in Ukraine including market and tariff system reform in the gas and electricity sectors as well as diversification of energy sources and routes,” they said in a joint statement issued after the G7 Kitakyushu energy ministerial meeting on May 1.
”In particular, we welcome the recent announcement by Ukraine of its intention to establish the necessary framework conditions for a comprehensive energy efficiency program targeted at the residential gas-based heat sector. We also welcome Ukraine`s implementation of the Extractive Industries Transparency Initiative to improve transparency in the energy sector,” it said.
”We strongly urge Ukraine to pursue further ambitious reform of its energy sector, including the adoption of legislation forming an independent energy regulator, and separate legislation creating a competitive, transparent energy market. We also call for enhanced cooperation between the Ukrainian national gas transmission system operator and relevant international peers,” the G7 member states said.
They also endorsed the progress report on G7 energy sector support for Ukraine.
”We will continue close consultations with Ukraine on a roadmap for energy reform, resilience planning, securing its gas supply needs, including by increasing domestic production, and enhancing deployment of energy efficiency policies and technologies,” it said.
The G7 ministerial meeting took place pending the G7 Summit, which is to be held in Ise-Shima on May 26-27, 2016.


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