WASHINGTON, D.C. - U.S.-Ukraine Business Council (USUBC) hosted an in- person meeting with Yuriy Vitrenko, CEO of Naftogaz Ukraine in Washington D.C. on Tuesday. This meeting took place in the office of USUBC member Bayer.


In the picture left to right: Svitlana Zalishchuk, Naftogaz, Matthew Murray, Sovereign Ventures, LLC; Yuriy Vitrenko, CEO. Naftogaz, Edward Chow, CSIS; Nadiia Khomaziuk, USUBC; Alex Slusarenko, USUBC.

The focus of the conversation was on the energy security of Ukraine, expanding oil, gas and equipment supply to Ukraine, and possibilities in renewable Energy.

Together with over 20 participants, Mr. Vitrenko discussed the critical issues of state regulations in the industry, corporate governance reform, energy efficiency, the world’s energy transition, renewables etc.

In the picture left to right: Ivan W. Bilaniuk, Dinsmore & Shohl LLP; George Tsereteli, McLarty Associates; Oleksandr Scherba, NAftogaz; Svitlana Zalishchuk, NAftogaz; Yuriy Vitrenko, Naftogaz; Sergiy Boyev, Naftogaz; Jim Beall, Greenbrier; Svitlana Vlasova, Naftogaz;

Yuriy Vitrenko stated that Ukrainian Government is willing to facilitate market development, and to work with international players to integrate Ukraine into existing markets, and not to push it out.

USUBC Senior Advisor, Edward Chow moderated the Q&A and stressed on the importance of deregulation when favorable circumstances occur.

In the picture left to right:  Edward Chow, Center for Strategic & International Studies; Amy Conroy, Shell; Elina Ribakova, Institute of International Finance.

Among participants of this roundtable were the following companies and organizations: Shell, EBRD, CNH Industrial, The Greenbrier Company, George Washington University, Stoddard Group International, Sovereign Ventures, LLC, Institute of International Finance, McLarty Associates, Bayer, Center for Strategic & International Studies (CSIS), Dinsmore & Shohl LLP, Summit Strategies Government Affairs, U.S.-Ukraine Foundation, Embassy of Ukraine in USA and others.

Naftogaz is the largest state-owned company in Ukraine engaged in a full cycle of field exploration and development, production and exploration drilling, storage of oil and gas, processing and distribution of oil products, natural gas and liquefied gas to consumers.

Vitrenko recently announced that Naftogaz has been tasked with becoming the so-called national operator in the oil products market in order to ensure fair market prices by operating a large chain of gas stations occuping up to 30% of the market. LINK:  https://en.interfax.com.ua/news/economic/835257.html.