#Ukraine and #Poland are taking steps towards #developing a #regional #gas #trading and #transit #hub aimed at putting an end to #gas #dependence on #Russia. The gas hub is also set to #keep #natural #gas prices in line with #European standards.
Visit our website if you are interested in the #Ukrainian_economy or #doing_business in Ukraine.Visit our website if you are interested in the #Ukrainian_economy or #doing_business in Ukraine.
On 6 June 2017, Ukraine and Poland announced in the second Polish-Ukrainian Gas Conference in Warsaw they are planning on ending Central and Eastern Europe’s dependence on Russia in the area of gas supplies.
Like the most countries of the region, Ukraine and Poland share reliance on Russian natural gas imports. Due to their uneasy relationship with the Russian Federation, which had further deteriorated over the conflict in Crimea and Eastern Ukraine, both countries have been under political pressure from Moscow. Therefore, European governments have been constantly seeking other imports sources when it comes to gas supplies. Moreover, they are also trying to improve their energy efficiency by way of developing renewable energy projects. In particular, the EU is willing to create a common gas market that would guarantee supplies from different gas suppliers.
In this context, Ukraine and Poland announced about their plans to build a regional gas trading and transit hub on the Ukrainian-Polish border. The gas hub will be strategically located to connect to the European Union markets to the south and west as well as to Baltic and Nordic countries. Ukrainian and Polish officials who participated in the Polish-Ukrainian Gas Conference said that the gas hub should be in place on the border by 2022. According to Ukrainian government officials, at the moment Ukraine has enough infrastructure facilities to move onwards with the hub.
The so-called “interconnector” is supposed to have eight streams in one direction and seven in the other one. It will make it possible to combine gas markets of Poland and Ukraine and, consequently, make the countries energy independent.