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Naftogaz CEO: Ukraine has future of "power-bank" in Europe

Chernyshov is sure that the energy sector in reformed Ukraine has "great prospects".

Naftogaz CEO: Ukraine has future of "power-bank" in Europe
Naftogaz CEO Oleksiy Chernyshov
Photo: naftogaz.com

Naftogaz CEO Oleksiy Chernyshov is confident that Ukraine has the future of a so-called "power-bank" in Europe. He said this in an interview with LB.ua.

"In the near future, projects and programs of energy efficiency measures will be a priority for Ukraine. We have been talking about this for a long time. But only the introduction of the energy market will accelerate these programs. Because they will become economically feasible and commercially interesting for business," he said.

Secondly, according to him, there is a strategic direction for the development of the country's energy sector.

"And I am personally convinced that Ukraine has the future of the so-called power-bank of Europe. That is, it is a country that produces a lot of energy. It is a country that can store it, which is in fact a reliable powerhouse, an energy hub for Europe. And these are natural gas storage facilities, which are already the largest. This is a question of generating electricity of a different nature. In particular, wind generation will be of great importance. It is also a matter of hydrocarbon production - both gas and oil," said the Naftogaz Chairman.

"The energy sector in the reformed country (I emphasise reformed) has great prospects. It will become a key lever for the development of this country. And our task is to fulfill the condition of reforming now, before the war is over. This moment has come. It must be done," Chernyshov added. 

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