Page 13 - FSUOGM Week 30 2021

FSUOGM NEWS IN BRIEF FSUOGM

of gas to be purchased from Russia for business model, and this is not only due to
transit via Ukraine need to be settled under the global trend towards a steady reduction
market conditions and at market prices. If Comment on statement in the use of fossil fuels, but also by its
the aggregate of the new volumes of Russian own ambitious plans to implement low-
gas to be purchased and transited via the of Yury Vitrenko, CEO of carbon projects, in particular in the field of
Ukrainian route exceeds the current transit renewable and bio-energy, energy efficiency,
obligations, Gazprom will readily increase Naftogaz of Ukraine and the hydrogen economy. Environmental
the volumes of gas transit across Ukraine. and climate requirements regarding the
We consider our German partners to “We have familiarized ourselves with operations of companies will increase each
be entirely justified in taking part in this the statement of Yury Vitrenko, CEO of year. It is therefore important right now to
work due to the announced plans for the Naftogaz of Ukraine. We would like to point start projects aimed at reducing emissions
decarbonization of the EU economy.” out that no one was offering Ukraine to buy at all stages – from oil and gas production
Russian gas. The comment of Alexey Miller, to their processing, storage and supply.
GAZPROM (RUSSIA) Chairman of the Gazprom Management Without appropriate ESG strategies, it
Committee, was addressed to our partners is impossible to obtain investment and
from the EU, primarily German ones. financing even for Naftogaz’s core activities,”
EASTERN EUROPE The comment was about the volumes commented Oleksiy Ryabchyn, Advisor to
of transit through Ukraine after 2024 the Naftogaz CEO.
Biden invites Zelenskiy corresponding to the new volumes of responsibility focuses on the development
Naftogaz’s approach to corporate social
Russian gas purchased by EU companies
as Nord Stream 2 plan under new contracts. It was also about our of regions where it is present.
“Naftogaz Group has long operated
concerns related to the decarbonization of
emerges the EU economy in this regard.” according to principles which coincide
with the guiding principles of UN Global
The White House announced that it had GAZPROM (RUSSIA) Compact. For us, this is a matter of social
invited Ukrainian President Volodymyr responsibility and an example of what
Zelenskiy to visit on August 30. Zelenskiy Naftogaz joins United modern production can and should be.
will meet US President Joe Biden, and Accession to the Agreement is a logical
the trip is meant to “affirm the United Nations Global Compact development of Naftogaz corporate policy.
States’ unwavering support” for Ukraine, It also serves as a demonstration that we
whitehouse.gov published on July 21. Initiative strive to become a company chosen by
High on the agenda will be energy our customers, a reliable employer for
security. The meeting comes as the Naftogaz of Ukraine has joined the United our employees, and a responsible partner
Biden administration and Germany have Nations Global Compact (UN Global not only for communities wherever
announced an agreement regarding the Compact) as a participant. This new hydrocarbons are produced, but for the
completion of the Nord Stream 2 pipeline. commitment will see the company align whole of Ukraine,” said Sergii Pereloma,
The deal has drawn political condemnation with the 10 principles of the UN Global First Deputy Chairman of the Board of
in Washington, Berlin, Warsaw and Kyiv, Compact, work towards achieving the Naftogaz of Ukraine.
politico.com reported on July 21. Sustainable Development Goals and report UN Global Compact Ukraine Chief
“The issue of the completion of Nord on their execution. Executive Director Tatiana Sakharuk also
Stream 2 has been covered in the press Naftogaz will pursue its sustainable stressed the importance of Naftogaz joining
extensively for years. The consequences are development strategy in six areas: the sustainable business community. “We
also well known. What has gotten lost in -Affordable and Clean Energy are very pleased to have Naftogaz Group
the noise of the last few days has been the -Clean Water and Sanitation among our participants. Large business has
potential repurposing of Ukraine’s GTS for -Good Health and Well-Being a significant impact on the regions where
transporting hydrogen. The Politico report -Quality Education it operates, on the environment, on its
pointed to environmental issues, such as -Sustainable Cities and Communities employees, consumers, and partners. When
cheaper Russian gas, via Nord Stream 2, -Partnership for the Goals. companies like Naftogaz take responsibility
replacing dirtier coal. However, an analyst In addition to its core business, for the impact of their activities on the
in it also pointed to this massive argument combating climate change and improving world we live in, we are moving closer to
over, effectively, a legacy fuel as “insane”, the environment is an undisputed priority achieving our Sustainable Development
and with the prospect of a) weaning Europe for any modern energy business in today’s Goals.”
off dirtier fuels, b) weaning Ukraine’s world. Naftogaz Group is the largest vertically
government off Russian payments (and Naftogaz cannot be exempt from this integrated oil and gas company in Ukraine,
thus, blackmail), and c) creating a massive trend, especially taking into account the with operations spanning natural gas,
clean fuel production industry within commitments under the Paris Agreement oil and gas condensate exploration and
Ukraine itself – one just as strategic in on climate change, the Concept of State production, gas and oil storage, oil
transmission terms as the current GTS, then Climate Change Policy Implementation transmission and transit, as well as supply
pushing green hydrogen in Ukraine must until 2030, and the Association Agreement of natural and liquefied gas to consumers.
become a refrain in Washington, Berlin and between Ukraine and the EU, Euratom and Naftogaz employs more than 52,000 people
Kyiv,” an analyst at the Kyiv-based Concorde their member states. and is one of the largest taxpayers in the
Capital brokerage said in a research note. “Naftogaz Group is developing a green country. The company is actively involved in

Week 30 28•July•2021 www. NEWSBASE .com P13