DTEK, Ukraine’s largest private energy company, is in talks with U.S. developers to increase LNG deliveries to Europe, according to CEO Maxim Timchenko in an interview with The Wall Street Journal published Wednesday.
Timchenko expressed optimism, saying, “I hope that this year DTEK will announce several deals with foreign companies.” He emphasized that Europe should replace Russian gas primarily with LNG.
DTEK, which also operates power plants in Ukraine, is working to repair facilities damaged by Russia during the ongoing conflict. Timchenko mentioned that the company is engaging with European and U.S. businesses in an effort to secure investments for expanding renewable energy capacity in Ukraine.
Last year, DTEK announced that Ukraine received its first U.S. LNG cargo at a Greek terminal. This move is part of efforts by Ukraine and Europe to enhance energy security and reduce reliance on Russian gas. The LNG was re-gasified and sent through the EU and Ukrainian gas networks with the help of Greek and other partners.
Timchenko highlighted the importance of this development, stating, “The arrival of this LNG cargo is a clear signal of DTEK’s commitment to strengthening Ukraine and Europe’s energy security.”
In June, DTEK’s trading subsidiary signed a Heads of Agreement (HOA) with U.S. company Venture Global for U.S. LNG supply to Ukraine and Eastern Europe.
Currently, DTEK’s main focus is restoring Ukraine’s power stations damaged by the war. The company also plans to build new power generation plants in Ukraine, Poland, and Romania. This expansion will help support Ukraine’s energy system by exporting electricity from DTEK’s future plants in these neighboring countries.
Related Topics:
- Does China Harness the Power of Tidal Energy? A Comprehensive Exploration
- Understanding the Three Types of Tidal Energy: Comprehensive Analysis
- How Can We Transition to 100% Renewable Energy?