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UKRAINE BEGINS IMPORTING COAL FROM UNITED STATES
Statement by Centrenergo regarding initiation of cooperation
with U.S. company, Xcoal Energy & Resources Centrenergo's largest shareholder is the State Property Fund
of Ukraine which operates 78.29 % of the shares
U.S. Embassy, Kyiv, Ukraine, July 31, 2017
Statement by Centrenergo regarding initiation of cooperation
with U.S. company, Xcoal Energy & Resources Centrenergo's largest shareholder is the State Property Fund
of Ukraine which operates 78.29 % of the shares
U.S. Embassy, Kyiv, Ukraine, July 31, 2017
KYIV - Centrenergo Statement - At the invitation of the U.S. Government in June of this year we visited the United States to explore importing coal products to Ukraine. Prior to this visit numerous consultations took place at the U.S. Embassy in Kyiv with, in particular, the representatives of the U.S. Commercial Service and the Department of Energy.
In addition to official meetings at the U.S. Department of Energy and the U.S. Department of Commerce, the company's management visited the five largest coal mining companies in Pennsylvania. All of these companies were among potential suppliers identified by the USG.
This visit resulted in an understanding of mining capabilities and capacities as well as the capacity to export coal products to meet the needs of Centrenergo’s thermal power plant.
The best proposal came from one of the largest American coal mining and exporting companies - Xcoal Energy & resources, with which Centrenergo pursued further negotiations of a mutually beneficial contract.
As a result, on July 14th 2017, in order to enable the stable operation of Centrenergo’s thermal power plants, Centrenergo signed a contract to import coal with Xcoal Energy & Resources [Latrobe, PA, www.xcoal.com].
The first vessel carrying 85,000 tons of coal is already expected to arrive in Yuzhny port in early September this year. Under the terms of contract, the next 120,000 tons will arrive by the end of September. Overall about 700,000 tons of American coal will be delivered to thermal power plants by the end of 2017.
The uninterrupted supply of coal by the American company will enable the full functioning of Centernergo’s power plants, which in turn will ensure a stable autumn-winter heating season in 2017-2018.
I also would like to recognize the assistance that has been provided by the Embassy of the United States, namely by the representatives of the U.S. Commercial Service, the Economics Department, and Department of Energy. Their active position and contribution facilitated the successful start of cooperation with the U.S. company for the import of American coal to Ukraine.
In addition to official meetings at the U.S. Department of Energy and the U.S. Department of Commerce, the company's management visited the five largest coal mining companies in Pennsylvania. All of these companies were among potential suppliers identified by the USG.
This visit resulted in an understanding of mining capabilities and capacities as well as the capacity to export coal products to meet the needs of Centrenergo’s thermal power plant.
The best proposal came from one of the largest American coal mining and exporting companies - Xcoal Energy & resources, with which Centrenergo pursued further negotiations of a mutually beneficial contract.
As a result, on July 14th 2017, in order to enable the stable operation of Centrenergo’s thermal power plants, Centrenergo signed a contract to import coal with Xcoal Energy & Resources [Latrobe, PA, www.xcoal.com].
The first vessel carrying 85,000 tons of coal is already expected to arrive in Yuzhny port in early September this year. Under the terms of contract, the next 120,000 tons will arrive by the end of September. Overall about 700,000 tons of American coal will be delivered to thermal power plants by the end of 2017.
The uninterrupted supply of coal by the American company will enable the full functioning of Centernergo’s power plants, which in turn will ensure a stable autumn-winter heating season in 2017-2018.
I also would like to recognize the assistance that has been provided by the Embassy of the United States, namely by the representatives of the U.S. Commercial Service, the Economics Department, and Department of Energy. Their active position and contribution facilitated the successful start of cooperation with the U.S. company for the import of American coal to Ukraine.
Thank you for your attention.
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ABOUT CENTRENERGO - Public Joint-Stock Company "Centrenergo", is one of the largest power generating companies in Ukraine, which plays a leading part in life-sustaining activity of such industrially advanced regions of Ukraine as Kyiv, Kharkiv and Donetsk regions.
Being an important part in support of the power balance of Ukraine, PJSC "Centrenergo" provides sustainable electricity supply according to NEC "Ukrenergo" schedules to the wholesale energy market and thermal energy for heating and hot water supply of the towns of Svitlodarsk (Donetsk region), Ukrainka (Kyiv region) and village Slobozhanske (Kharkiv region).
The Company's structure comprises three thermal power plants - Vuglegirska, Zmiivska and Trypilska. The total designed capacity of the power plants makes 7690 MW that is equal to about 14 % of the total capacity of the Ukrainian power plants. With regard to this parameter the Company takes the second place among th
The authorized capital of PJSC "Centrenergo" makes 480 229 240,40 UAH and is divided on 369 407 108 registered stock shares with nominal value 1,3 UAH each.
The biggest shareholder is the State Property Fund of Ukraine which operates 78,29 % of the shares in the authorized capital of the Company. Others legal entities and individuals possess 20,38 % and 1,33 % of the shares accordingly.
Information about Securities
The Company's shares are freely traded at the regulated and secondary stock markets. According to the international classification, the issuer's code - CEEN is recognized by Reuters and Blumberg. The Company's shares are ranked as "blue chips".
PJSC "Centrenergo" shares are at the first (highest) level in the listing of the First Stock Exchange Trading System (PFTS) that is the sign of high business reputation and investment appeal. Centrenergo shares are included into PFTS and Ukrainian stock exchange index basket.
LINK: http://www.centrenergo.com/en/about/
Being an important part in support of the power balance of Ukraine, PJSC "Centrenergo" provides sustainable electricity supply according to NEC "Ukrenergo" schedules to the wholesale energy market and thermal energy for heating and hot water supply of the towns of Svitlodarsk (Donetsk region), Ukrainka (Kyiv region) and village Slobozhanske (Kharkiv region).
The Company's structure comprises three thermal power plants - Vuglegirska, Zmiivska and Trypilska. The total designed capacity of the power plants makes 7690 MW that is equal to about 14 % of the total capacity of the Ukrainian power plants. With regard to this parameter the Company takes the second place among th
The authorized capital of PJSC "Centrenergo" makes 480 229 240,40 UAH and is divided on 369 407 108 registered stock shares with nominal value 1,3 UAH each.
The biggest shareholder is the State Property Fund of Ukraine which operates 78,29 % of the shares in the authorized capital of the Company. Others legal entities and individuals possess 20,38 % and 1,33 % of the shares accordingly.
Information about Securities
The Company's shares are freely traded at the regulated and secondary stock markets. According to the international classification, the issuer's code - CEEN is recognized by Reuters and Blumberg. The Company's shares are ranked as "blue chips".
PJSC "Centrenergo" shares are at the first (highest) level in the listing of the First Stock Exchange Trading System (PFTS) that is the sign of high business reputation and investment appeal. Centrenergo shares are included into PFTS and Ukrainian stock exchange index basket.
LINK: http://www.centrenergo.com/en/about/
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U.S.-Ukraine Business Council (USUBC)
1030 15th Street, N.W., Suite 555 W, Washington, D.C.
Morgan Williams, mwilliams@usubc.org; www.USUBC.org; 202 437 4707
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Power Corrupts & Absolute Power Corrupts Absolutely.
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