01.10.2010, 20:00
DTEK to Spend USD 3 bln on Emission Reduction
OREANDA-NEWS. October 01, 2010. DTEK, the largest privately owned vertically integrated Ukrainian energy company, will have to spend about 2.5-3 billion dollars on reduction of solid particle emission within 8 years in case of final accession to the Energy Community, stated DTEK’s CEO Maksim Timchenko at the conference “Ukraine: Reforms, Competitiveness, Investments” held by the Foundation for Effective Governance in association with Financial Times in Kyiv on Tuesday.
“Ukraine is given eight years to attain compliance with the European standards on solid particle emission. It took others 20 to 25 years to complete this process”, - he pointed out.
Mr. Timchenko estimates that the costs of the country’s energy business for fulfillment of these requirements will amount to 20 billion dollars. According to him, every thermal energy company of Ukraine faces the necessity to finance such costs.
DTEK’s CEO also stated that this issue needs further discussion.
He stressed that after signing of the documents on Ukraine’s accession to the Energy Community last week the process will be completed by ratification in the Verkhovna Rada (the parliament of Ukraine).
As reported, last week Mr. Yuriy Boyko, the Ukrainian Minister of Fuel and Energy, and Mr. Fatmir Besimi, the Macedonian Minister of Economy, signed the Protocol on accession of Ukraine to this organization at the 8th Ministerial Council of the Energy Community in Skopje (Macedonia).
The EU Council of Ministers approved the accession of Ukraine and Moldova to this organization in December 2009. To complete the accession procedure the parties were required to pass a law on gas complying with the EU regulations. The process will be finalized when Verkhovna Rada ratifies the protocol.
DTEK was founded in 2005 as a management company for energy assets of the System Capital Management Group (SCM, Donetsk). 100 percent of SCM shares are owned by Rinat Akhmetov.
The corporate structure of the group is build by three constituents: the holding company (DTEK Holdings B.V., Amsterdam, the Netherlands), the corporate center (DTEK LLC, located in Donetsk and Kyiv) and production enterprises in four regions of Ukraine.
“Ukraine is given eight years to attain compliance with the European standards on solid particle emission. It took others 20 to 25 years to complete this process”, - he pointed out.
Mr. Timchenko estimates that the costs of the country’s energy business for fulfillment of these requirements will amount to 20 billion dollars. According to him, every thermal energy company of Ukraine faces the necessity to finance such costs.
DTEK’s CEO also stated that this issue needs further discussion.
He stressed that after signing of the documents on Ukraine’s accession to the Energy Community last week the process will be completed by ratification in the Verkhovna Rada (the parliament of Ukraine).
As reported, last week Mr. Yuriy Boyko, the Ukrainian Minister of Fuel and Energy, and Mr. Fatmir Besimi, the Macedonian Minister of Economy, signed the Protocol on accession of Ukraine to this organization at the 8th Ministerial Council of the Energy Community in Skopje (Macedonia).
The EU Council of Ministers approved the accession of Ukraine and Moldova to this organization in December 2009. To complete the accession procedure the parties were required to pass a law on gas complying with the EU regulations. The process will be finalized when Verkhovna Rada ratifies the protocol.
DTEK was founded in 2005 as a management company for energy assets of the System Capital Management Group (SCM, Donetsk). 100 percent of SCM shares are owned by Rinat Akhmetov.
The corporate structure of the group is build by three constituents: the holding company (DTEK Holdings B.V., Amsterdam, the Netherlands), the corporate center (DTEK LLC, located in Donetsk and Kyiv) and production enterprises in four regions of Ukraine.
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