Page 18 - FSUOGM Week 03 2023

FSUOGM NEWS IN BRIEF FSUOGM

“The formula of Ukrainian between Ukraine and the whole civilised existed between 2021 and 2022; however, it
world. We are so grateful for all the support
has now been made permanent. Belarusian
survival is unity!" CEO of we receive daily from our international refineries will this be competing on the
same grounds as Russian ones. Russia’s
partners. Ukraine will survive this winter
Ukraine's largest energy and become stronger. And we will definitely demand for allowing this reimbursement
win,” he added.
has long been that Belarus sign a common
company tells Atlantic Council also taken a hit during the war; with solar, tax agreement with Russia, which it did in
Ukraine’s renewable energy sector has
September.
forum wind and thermal seeing a significant Belarus’ deficit-heavy budget and help the
This reimbursement will help support
drop in capacity. Around 80% of wind
Maxim Timchenko, the CEO of DTEK, generation is out of action due to damage or government keep the deficit below 3% of
Ukraine’s leading power company, joined occupation by Russian forces. Nevertheless, GDP.
the Atlantic Council’s discussion “Europe in DTEK has successfully resumed electricity While speaking about the matter
Crisis: The path forward” at the 2023 Forum supply from the solar power plant with state Belarusian media, Seliverstov
on January 16. Tryfonivska after it was liberated and is mentioned that "…this is such a tangible
The meeting focused on energy security providing electricity to settlements in the amount that would allow our refineries,
and decarbonisation efforts, as well as Kherson region. which process petroleum products
the impact Russia’s full-scale invasion of Timchenko is keen to show that Ukraine necessary for our domestic market, to
Ukraine has had on the energy transition and Europe’s energy sectors will have a have the same terms and conditions as
process. Timchenko highlighted the close relationship in the future. Ukraine’s in the Russian Federation, and to benefit
devastating effect of Russia’s attacks on renewable energy sector will see major economically there from the rather
Ukraine’s energy infrastructure, which has investments post-war as the country looks acceptably favourable conditions.”
resulted in rolling blackouts across the toward a green future alongside the EU. From this statement it’s worth noting
country. “DTEK, Ukraine’s largest private energy the part of processing petroleum products
“The energy crisis is different for the company, is investing in Europe’s energy necessary for the domestic market. In early
EU and Ukraine. For European people, security. We first connected the Ukrainian 2022, Belarus had been deprived of almost
this crisis is reflected in households’ bills grids to the European Grid System in every export route for its oil products (and
and the cost of electricity. For Ukrainians, March 2022, so our energy sector is already more), with the Russian channel being the
it is about the number of hours they have a part of the EU. It means that all future only one remaining.
electricity supply or the number of hours investments in Ukraine's energy sector Already in April, Belarus’ Naftan and
they have to spend in a bomb shelter. In should be considered as part of European Mozyr oil refineries halved their processing;
fact, it’s all about the energy war that started energy security,” Timchenko said. shortly afterwards, Belarus’ Deputy Prime
many years ago with the blackmailing of gas “Moreover, Ukraine has huge potential in Minister said that “in view of restrictions,
prices. For years we have warned that Putin developing renewable energy, meaning we including those based on sanctions, we've
is weaponising energy and now we are all in can play a significant role in the European optimised oil refining at two oil refineries of
this reality,” Timchenko said, according to green transition,” he added. ours in order to meet needs of the domestic
the press release. market.”
DTEK has suffered significantly from Belarus could be purely focused on
Russia’s energy attacks since they began Belarus expects to receive refining for its domestic sector, while only
on October 10. The company has so far exporting small amounts to international
recorded over 170 strikes by missiles, $650mn in reimbursement from markets through Russian ports. This
kamikaze drones and rockets, damaging should be the most reasonable conclusion,
11,000 pieces of thermal power plants’ Russian tax manoeuvre considering that Russian ports are already
(TPPs) equipment. By October 24, DTEK busy enough with Russian goods and
had lost $40mn in just two weeks. On Monday, January 16, Belarusian Finance Belarusian potash.
Russia’s strikes on Ukrainian energy Minister Yuri Seliverstov announced However, now, Belarus may also better
infrastructure are relentless, with the that the country is expecting RUB1.7bn compete with Russian companies on the
tenth attack taking place on January 14, (approx. $647.4mn) in reimbursements domestic Russian market. Moreover,
killing over 40 people after a missile hit a from Russia’s reverse excise tax (a.k.a. the Belarus is trying to stimulate oil exports.
residential building in Dnipro. Currently, tax manoeuvre). This exceeds previous After lowering tariffs in September 2022,
5-6mn people are without electricity in estimates by experts of $500mn. they were cut once more starting from
Ukraine. During Russian President Vladimir January 1, 2023
“The formula of Ukrainian survival is Putin’s visit to Minsk in late December, In late November 2022, the Belarusian
unity! That means unity between private Belarusian President Alexander Lukashenko state company Gomeltransneft Druzhba
and state companies: we work together managed to negotiate favourable energy asked Transneft to increase the tariff on oil
every day, exchange equipment and help prices for Belarus in 2023. Furthermore, as by 39% starting from January 1, 2023. The
each other. It is also unity between energy a result of Belarus’ co-operation with Russia official said that Gomeltransneft Druzhba
companies and the military, working in 2022, Russia will reimburse Belarusian had asked for the tariff increase since it
together to protect our energy facilities, and oil refineries for the reverse excise tax. This expected the flow of oil through the pipeline
become more experienced and creative,” leaves Belarusian refineries with oil supplies to halve in 2023.
Timchenko emphasised. at a price of $80 per barrel.
“Importantly, it also means unity A similar but temporary agreement also

P18 www. NEWSBASE .com Week 03 18•January•2023