Germany to Invest in Ukraine's Energy Security
Germany has decided to allocate €60 million to support Ukraine's energy sector. Prime Minister Yulia Svyrydenko discussed with German Energy Minister Katharina Reiche the preparations for winter and measures to enhance energy resilience. She reported this via Telegram after meeting with Reiche.
“These funds will facilitate the faster delivery of generators, energy equipment, and mobile power plants,” Svyrydenko stated.
During the meeting, they discussed preparations for winter, strengthening energy resilience, and establishing a joint working group for energy issues and expanding industrial cooperation.
“In December, a Ukrainian-German business forum will be held in Berlin, which could serve as a platform for new partnerships. I proposed signing an intergovernmental agreement to support investors, similar to what is being implemented by Denmark, the Netherlands, France, and Switzerland. I also expressed gratitude to Germany for its active stance on the use of Russian assets,” the Prime Minister added.
Additionally, Reiche promised Ukraine €30 million in extra assistance for the energy sector. According to Tagesspiegel, this amount may be increased. During her visit to Kyiv, Reiche mentioned that approximately 60% of Ukraine's gas supply was destroyed due to Russian attacks at the beginning of October.
“Russia's goal is clearly to exhaust Ukraine. We will help restore the energy infrastructure,” she emphasized.
Reiche arrived in Kyiv on October 24 to assess Ukraine's needs for restoring its energy infrastructure after the large-scale attacks from Russia that severely damaged the power grids. She also intends to focus on expanding German-Ukrainian defense cooperation.
As of now, Germany has already allocated a third of the total €390 million for the Energy Aid Fund for Ukraine.
It is worth noting that on October 13, EU foreign policy chief Josep Borrell announced that the EU is working on providing Ukraine with an additional €100 million for the heating season. On October 24, Ukrainian Energy Minister Svitlana Hrynchuk stated that Ukraine is discussing additional aid with partners for the purchases of gas and energy equipment. Ukraine will also receive a third package of approximately $150 million from Norway for gas procurement for the winter.
