EBRD and Ukraine signed memorandum to reduce methane emissions from gas industry

Renewable energy in Ukraine: EBRD and Ukraine signed memorandum to reduce methane emissions from gas industry

The #EBRD will help #Ukraine #reduce #methane #emissions from #gas industry. The respective #Memorandum of Understanding was signed by the EBRD, NJSC Naftogaz of Ukraine and the Ukrainian Ministry of Ecology and Natural Resources. Besides, the Bank is also considering an #investment of EUR 52 million to reduce environmental impact of #Naftogaz subsidiary #UkrGazVydobuvannya.

Visit our website if you are interested in the #Ukrainian_economy or #doing_business in Ukraine.

The European Bank for Reconstruction and Development (EBRD) and Ukraine signed a Memorandum of Understanding to reduce methane emissions from the gas industry. The document was signed by the Director of the Energy Efficiency and Climate Change Department of the EBRD Terry McCallion, Chief Executive Officer of NJSC Naftogaz of Ukraine Andriy Kobolev and the Minister of Ecology and Natural Resources of Ukraine Ostap Semerak during the International Energy Forum on Energy for Sustainable Development in Kyiv.

The parties have agreed to develop the Methane Emissions Reduction Program in the Gas Supply Chains, a joint initiative, which provides for the implementation of state-of-the-art measurement tools, the improvement of the emissions inventory system and the development of an investment road map to reduce methane emissions into the atmosphere. The signing of the memorandum is a significant step in strengthening joint efforts to promote sustainable development in the Ukrainian oil and gas industry.

Mr. McCallion said that there are interested investors who can help Ukraine in the future to implement the program for reducing methane emissions. Consistent efforts to reduce atmospheric methane leaks in gas supply systems will contribute to the Ukrainian energy sector decarbonisation.

Moreover, the EBRD is considering an investment of up to EUR 52 million to reduce environmental impact of Naftogaz subsidiary UkrGazVydobuvannya. The EBRD might provide the respective loan to UkrGazVydobuvannya to help it invest in reducing carbon dioxide emissions.

It should be noted that the EBRD is a major supporter of sustainable energy in the country and one of the biggest investors in Ukraine’s renewables, whose total investment in renewable energy projects in Ukraine exceeds EUR 350 million.

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