On 5 November, ‘EU4Energy governance’ completed a technical assistance project on helping Ukraine in the implementation of Oil Stocks Directive 2009/119/EC. The establishment of emergency oil stocks will significantly improve domestic oil market operations and oil supply security.

Since June, representatives of the Verkhovna Rada, the State Reserve Agency, and the Ministry of Energy and Environmental Protection of Ukraine have been working closely with the Energy Community Secretariat on elaborating the secondary legislation needed for the implementation of the oil stocks 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, the Republic of 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, reducing energy poverty and energy bills for both citizens and the private sector.

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Press release

EU4Energy programme