Ukrainian Energy Firm Discusses U.S. LNG Deliveries to Europe | OilPrice.com
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Breaking News:
DTEK, Ukraine’s biggest private energy company, is holding talks with U.S. developers to bring more LNG to Europe, the firm’s chief executive Maxim Timchenko told The Wall Street Journal in an interview published on Wednesday.
“My great hope is that this year DTEK will announce several deals with foreign companies,” Timchenko told the Journal.
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Europe should replace Russian gas, primarily with LNG, said the Ukrainian executive.
DTEK, which also operates power plants in Ukraine, is working to restore facilities hit by Russia in the war and is talking to European and U.S. companies in the hope that it can attract them to invest in partnerships to boost renewable energy capacity in Ukraine, Timchenko told the Journal.
At the end of last year, DTEK said that Ukraine had taken delivery of its first U.S. LNG cargo at a Greek terminal as Ukraine and Europe look to bolster their energy security by reducing their dependence on Russian gas.
Working with Greek and other partners, the LNG was sent to be re-gasified and exchanged through the European Union and Ukrainian gas networks, the Ukrainian company said in December.
“The arrival of this LNG cargo is a clear signal of DTEK’s determination to play its part in strengthening Ukraine and Europe’s energy security,” Timchenko said at the time.
DTEK’s trading subsidiary signed in June a Heads of Agreement (HOA) with U.S. firm Venture Global for the supply of U.S. LNG to Ukraine and Eastern Europe.
Currently, DTEK’s top priority is to restore the damaged power stations in Ukraine, Timchenko told the Journal.
The company also looks to build new power generation capacity in Ukraine and in the neighboring countries, EU member states Poland and Romania, the executive said. The expansion strategy is aimed at supporting Ukraine’s power system by exporting electricity back to Ukraine from DTEK’s future plants in these countries.
By Charles Kennedy for Oilprice.com
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