Ukraine's energy minister outlines what Ukraine agreed with US on hydrocarbons production sharing and energy equipment

The Ukrainian delegation in the United States has reached important agreements with American companies on energy projects in Ukraine.

Source: Ukraine's Energy Minister Denys Shmyhal on 25 March

Details: In particular, the Ministry of Energy signed a hydrocarbons production sharing agreement with Aspect Holdings. The document is expected to help attract investment into the development of Ukraine's hydrocarbons extraction sector and strengthen the country's energy security.

"Naftogaz of Ukraine has signed a memorandum with leading international energy equipment manufacturer Solar Turbines. Potential areas of cooperation include localisation of equipment servicing and maintenance, training for Ukrainian specialists, and other initiatives aimed at improving the energy resilience and independence of Naftogaz Group facilities," Shmyhal noted.

In addition, Naftogaz of Ukraine signed a memorandum of understanding with American energy tech company Baker Hughes. Implementation of the agreement will help improve the energy efficiency and operational reliability of gas turbines and compressor units, increase productivity and optimise extraction.

Background: Ukraine and the United States also discussed the possibility of attracting US$1.4 billion in credit assistance from the US International Development Finance Corporation (DFC) to modernise energy equipment – particularly for gas production – as well as strengthening cooperation with the US EXIM Bank.

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