On 9 June, the ‘EU4Energy governance’ project launched a technical assistance project to support Ukraine in the implementation of the EU’s 2009 oil stocks directive. Establishing emergency oil stocks has the potential to significantly improve domestic oil market operations and enhance oil supply security.

Over the next few months, representatives of the Verkhovna Rada, the State Reserve Agency and the Ministry of Energy and Environmental Protection of Ukraine will work with Energy Community Secretariat experts 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 partnership 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, thus reducing energy poverty and energy bills for both citizens and the private sector.

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Press release

EU4Energy programme