The awards by the Arbitral Tribunal have radically changed the model of Ukrainian-Russian gas relations.
On 28 February, Naftohaz announced that the Arbitral Tribunal in Stockholm had handed down a favourable ruling for the Ukrainian side in its dispute with Gazprom.
In September, three out of five members of the supervisory board of Naftogaz, Ukraine’s largest gas company, announced their resignation.
The oil industry does not play a major role in the Ukrainian energy sector and has smaller economic and political significance than the gas, coal and nuclear sectors. The issues linked to the Ukrainian fuel sector are rarely given publicity in the mass media. Meanwhile, a comprehensive analysis reveals that there has been a painful and durable collapse in this strategic branch of the economy.
On 15th February the Ukrainian government declared a state of emergency in the energy sector. The main reason behind the decision is the shortage of anthracite.
For the first time in its independent history, Ukraine did not buy any gas directly from Russia, thus reducing its imports by about 32%.
The Ukrainian parliament adopted a law on the appointment of a new National Commission for the Regulation of the Energy Sector and Communal Services.
The plan for Naftogaz’s restructuring is an important step on the way towards Kyiv’s compliance with the obligations it has made to the EU and the IMF.
The consequences of the Chornobyl nuclear power plant disaster are still a permanent element of the economic, environmental and social situation of Ukraine.
The geographical structure of gas imports to Ukraine in 2015 confirms that Kyiv has succeeded in reducing its dependence on Russia.