Last updated on April 19, 2014 at 1:20 EDT

Ukraine and Turkey to Cooperate on Energy

February 16, 2012

KYIV, Ukraine, February 16, 2012 /PRNewswire/ –

Turkish energy officials along with their Ukrainian colleagues signed a protocol on
bilateral cooperation on joint energy projects. The parties agreed to further
collaboration on energy exports, gas, and implementation of the Ukrainian National Project
of constructing a new terminal for liquefied natural gas on the shore of the Black Sea.

The protocol was signed during the official visit of the Turkish delegation, which
included the representatives of the Turkish companies BOTA and EUEA and was headed by
the Minister of Energy and Natural Resources of Turkey Taner Yildiz. The Ukrainian
delegation included the Minister of Energy and Coal Industry of Ukraine Yuriy Boyko and
representatives of the national oil and gas company of Ukraine NJSC NaftogazUkrainy. “I am
sure the agreements we have by now will be put to life within a year,” said Minister Boyko
after the meeting.

The Head of Ukrainian National Projects Vladyslav Kaskiv noted that new agreements
with Turkey would help Ukraine ensure its energy security. Speaking of energy security,
Minister Yildiz emphasized that Turkey was thankful to Ukraine for providing Turkey with
extra gas (11 million cubic meters) this winter: “[That's when] we realized that help had
been only a phone call away. This will not be forgotten.”

According to Vladyslav Kaskiv, a bipartite technical group is currently working on
implementing Turkish-Ukrainian energy cooperation plans.

On January 13, 2012, Ukraine reportedly began negotiations with Turkey concerning gas
supply via an alternative route. A year prior – in January of 2011 – energy ministries of
the two countries signed a Memorandum of understanding in energy sector.

In November of 2011, Ukraine presented its National Projects at the road show in
Turkey. The presentation took a form of an investment conference “Ukraine: The Best
Investment Opportunities”. A series of similar events took place in 16 world financial
centers, including Frankfurt am Main and New York. Prospective investment projects focus
on four sectors: New Energy, New High-quality Infrastructure, New Quality of Life, and
Olympic Hope 2022. Investment packages presented to businessmen around the world included
LNG-Terminal, Energy of Nature, Olympic Hope 2022, Clean City, New Life, and Open World.

SOURCE Worldwide News Ukraine

Source: PR Newswire