On 24 November 2016, representatives of the European Union and Ukraine signed a Memorandum of Understanding on a Strategic Energy Partnership between the EU and Ukraine, whose aim is to promote energy cooperation of both regions.
In addition to energy security, nuclear safety, infrastructure development and market reforms, the cooperation will also focus on energy efficiency and renewables. It aims to participate in creating more certainty for investors.
Ukraine has been a transit country for transporting Russian gas to the EU. Ukraine has undertaken significant reforms in its gas sector over the past two years.
The new Memorandum replaces the previous one from 2005. The new Memorandum covers an initial period of 10 years. It will be implemented through annual priority work plans.
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