OREANDA-NEWS. On September 10, 2008 The Second International Forum opened under the title "Energy Security and Ukraine’s Role in the European Union’s Energy Policy", reported the press-centre of SCM.

The Forum was held in the European Parliament (Brussels) and focused on European energy security and prospects of Ukraine’s integration in the European energy system. The event was organized by the EU-Ukraine Business Council in association with the Mission of Ukraine to the European Union and Open Ukraine Foundation. SCM was a partner of the forum for the second successive year.

"Energy security is among the top priorities both for Ukraine and the European Union. Energy prices are rising  rapidly globally, and the biggest European economies find it increasingly important to have Ukraine as a reliable energy partner, firstly, as the main transit route for Russian and Asian hydrocarbons (oil and gas) imported into the EU.

Secondly, Ukraine’s role in the European energy supply and security system may change considerably in future, if the country develops its own energy sources, particularly hydrocarbons that currently remain untapped", said Jock Mendoza-Wilson, SCM's Director of International and Investor Relations.

Mr Mendoza-Wilson also stated that SCM Group, as the country’s biggest national investor, is confident of the potential of the Ukrainian energy industry. SCM is a strategic investor for this sector through its energy holding, DTEK., the Group, will invest around USD1.5bn to develop its energy business over the next five years.

Commitment to leadership in the sector, and introduction of the latest international practices and standards, will remain a key approach to investment. SCM believes that Ukraine’s cooperation with the EU is of strategic importance to ensure the long-term development of the Ukrainian energy industry and energy security of the nation.

SCM Group, through DTEK, is the biggest private sector player in the country’s energy market today. DTEK is Ukraine's only vertically-integrated business and runs enterprises in coal mining and enrichment, power generation, and electricity distribution.

Vitaliy Butenko, Chief Strategy Officer at DTEK, spoke at the Forum on behalf of SCM Group. He said that increasing demand for energy offers significant opportunities for developing traditional areas - coal and gas – as well as new energy sources in Ukraine including oil reserves from the country’s segment of the Black Sea shelf, as well as alternative and renewable energy resources. In addition, Mr Butenko highlighted the importance of private ownership and investment in the Ukrainian power sector, the need to develop public-private partnerships and the contribution these could make to strengthening the energy security of Ukraine.

Over 120 EU officials MEPs and business leaders attended the Energy Forum this year including Marjeta Jager, Director for Security at the Directorate General for Energy and Transport, European Commission, Sergey Pavlusha, Deputy Minister of Energy of Ukraine, Yuri Boyko, Former Ukrainian Energy Minister and President of the Confederation of Ukrainian Employers. The discussion was moderated by The President of the European Energy Forum, Giles Chichester, MEP.