On 5 November, EU4Energy Governance finalized the technical assistance project aimed at assisting Ukraine in the implementation of Oil Stocks Directive 2009/119/EC. The project deliverables will enable the establishment of oil reserves and strengthen the security of energy supply.
From June to November 2020, Energy Community Secretariat experts worked in close collaboration with policymakers of the Verkhovna Rada, the State Reserve Agency and the Ministry of Energy of Ukraine to develop the secondary legislation needed to implement oil stock holding reform.
* The EU4Energy Initiative covers all EU support to improve energy supply, security and connectivity, as well as to promote energy efficiency and the use of renewables in the Eastern Partner countries Armenia, Azerbaijan, Belarus, Georgia, Moldova and Ukraine. It does this by financing projects and programmes that help to reform energy markets and to reduce national energy dependence and consumption. Over the longer term, this makes energy supply more reliable, transparent and affordable, thus reducing energy poverty and energy bills for both citizens and the private sector.