Participants of 'EU-Ukraine: Issues of Energy Security' Roundtable Call for Greater Transparency in Ukrainian Energy Market

Members of European Parliament, analysts and experts gathered
together in Brussels at the International Round Table "European Union
and Ukraine: issues of energy security", supported by a group of
Ukrainian NGOs and think-tanks. The roundtable has become the first
stage of a wide dialogue on EU-Ukraine energy security issues.

Ukrainian experts pointed out the internal risk factors for the
energy market. Oleksandr Kamenets, president at the Private
Investments Protection Association, noted that attempts at the forced
takeover of the Ukrainian regional energy distribution companies in
2005 launched by the by companies of Russian businessman Kostyantyn
Grygoryshyn, are impeding the stability of domestic energy market and
the execution of export contracts. Mr.Grygoryshyn's actions
practically threaten the stability of the Ukrainian energy market,
which may threaten the country's economy in general and its
co-operation with the EU.

Round Table participants shared Mr.Kamenets' concerns and
emphasized that the non-transparency of the energy market and deals
behind the scenes may create a significant threat for the domestic
energy market and Ukraine's international commitments in the energy
sector.

According to Guntars Krasts, MEP from Latvia and VP for the
Committee of Economy and Monetary Policies and former
Vice-Prime-Minister of Latvia, the EU would like to see Ukraine as a
more predictable and stable partner. To accomplish that, Ukraine
should start reforming its domestic energy market to make it more
transparent and stop co-operation with companies of doubtful
transparency. "I'd say that cooperation in the energy field would be
partly achieved already if Ukraine really goes for a legalized and
transparent energy market," he pointed out.

Mr.Kamenets' and Mr. Krasts' remarks were included in the final
declaration of the round table participants.