Ukraine’s national joint stock oil and gas company Naftogaz said on August 6 it initiates the Ukraine Gas Investment Congress (UGIC) in order to encourage investments in the development of Ukrainian oil and gas industry, and to enhance integration with the European Union on energy security. The Congress, supported by the Ministry of Energy of Ukraine and the Ministry of Energy and Environmental Protection of Ukraine, will take place on 20-22 October in Kyiv.
“Ukraine, along with Naftogaz, plays a crucial role in ensuring European energy security,” Naftogaz CEO said. “With the second largest gas reserves on the continent, Ukraine has the greatest opportunity to increase natural gas production in the EU. We plan to present our investment opportunities to the world during the Ukrainian Gas Investment Congress,” he added.
At a time of global energy transition towards renewable energy, Naftogaz focuses on gas production as the most environmentally friendly fossil fuel, Naftogaz said in a press release. Currently, the company is one of the largest gas producers in Europe with annual production of 14 billion cubic meters. Naftogaz has gas assets that will allow for an increase of reserves to 600 billion cubic meters.
Exploration and development of new areas in the Black Sea along with unconventional and deep gas deposits feature in Naftogaz’s plans for the coming years, the press release read. Implementation of these plans requires an estimated investment of over USD 20 billion in the next 10 years.
As the initiator of the Ukraine Gas Investment Congress, Naftogaz participates in creating a platform for efficient cooperation, searching for new concepts and solutions, and joint actions for reliable and safe energy.
Up to 1000 business and political leaders from around the world are expected to take part in the Congress. 30 speakers will deliver their presentations over three days.
The Ukraine Gas Investment Congress is organized by DMG Events, an international exhibitions company. In particular, DMG annually holds the world’s largest energy events such as Gastech (Dubai, UAE), ADIPEC (Abu Dhabi, UAE) and Global Energy Show (Calgary, Canada).
Global Energy DMG Events President Christopher Hudson said the event will bring together energy industry leaders, policy makers and investors. He added that the Ukrainian Gas Investment Congress will present Ukraine’s natural gas opportunities and attractive investment climate to the world.
