President of U.S.-Ukraine Business Council (USUBC) Morgan Williams met with Oleg Ustenko, advisor to the President of Ukraine
U.S.-Ukraine Business Council (USUBC),
Wash, D.C., Thu, June 6, 2019
On June 5, advisor to the President of Ukraine Oleg Ustenko met with President of US-Ukraine Business Council (USUBC) Morgan Williams to discuss foreign investment opportunities, Ukraine's way to energy independence and other clinical issues for economic development. Particular attention was paid to the recent major event in the energy sector of Ukraine - holding competitions for the production-sharing agreements.
Morgan Williams stressed that significant expansion of oil and gas production in Ukraine is needed to meet the population needs and energy security. It can only be achieved with investments from private companies, including ones from USA. Ukraine needs to focus on creating conditions for competition in the industry, which is the key to energy independence of the state.
At the same time, private business representatives expressed their concern related to participation of the state monopoly player in all proposed lots which undermines chances of other private companies to win. “It is important to determine the winners as soon as possible with further fulfillment of investment obligations”, both parties agreed.