The world in which Europe’s modern energy architecture was formed no longer exists. Today, energy systems must be assessed based on resilience, speed of recovery, and the ability to operate under prolonged shocks.
This was emphasized by First Deputy Prime Minister – Minister of Energy of Ukraine Denys Shmyhal during the “European Forum” at the international energy conference CERAWeek in Houston, USA.
The Minister noted that Ukraine was forced to face these challenges earlier than most countries and outlined key conclusions for partners:
- Security and protection of energy facilities must be embedded in design processes;
- Distributed generation, cogeneration, energy storage systems, and backup solutions for critical infrastructure are essential for ensuring uninterrupted operation;
- Diversification strengthens energy independence and reduces risks to energy systems;
- Strategic equipment reserves are a key asset that should become part of collective energy security;
- The role of energy ministers in partner countries should be strengthened, with appropriate authority and access to resources.
“Ukraine’s experience has practical value. We are ready to share it to strengthen energy security in Europe,” Denys Shmyhal concluded.
He also noted during a roundtable titled “Global Partnership for Ukraine: Strategic Opportunities in the Energy Sector” on the sidelines of CERAWeek that, according to the World Bank, Ukraine will require nearly USD 91 billion over the next decade to rebuild its energy sector.
“To mobilize such investment, Ukraine critically needs private capital,” he stated.
Denys Shmyhal outlined key areas with the highest investment potential, including energy storage systems (BESS), renewable energy, gas generation, development of local energy networks, as well as gas production and modernization of oil and gas infrastructure.
The Minister emphasized that investments in Ukraine’s energy sector are mutually beneficial: for Ukraine, they mean modernization of the energy system; for Europe, strengthening and diversification of the energy architecture; and for investors, access to one of the largest infrastructure markets on the continent.
“Every dollar invested in Ukraine’s energy sector is a contribution to regional stability and Europe’s security,” Denys Shmyhal stressed.
