OREANDA-NEWS. September 25, 2013. Implementation of transparent energy market and ensuring a balance between different types of energy as imported as well as produced in the country are two main priorities to the Government of Ukraine towards the development of the energy sector.

This was started by Vice Prime Minister of Ukraine Yuriy Boyko during the discussion of "Energy: Risks, Decisions, Revolution" at the 10th Annual Meeting in Yalta.

According to him, the development of energy market in Ukraine and thus the appearance of lower-cost energy for consumers, will improve the state of the domestic economy, attract investment and increase the competitiveness of Ukrainian goods.

Yuriy Boyko said that the role of Government in implementing a balance between different types of energy consumed in Ukraine is extremely important. He noted that this will avoid problems for power when something happens with one of the types of energy.

"The state should develop a clear, understandable energy strategy, which will balance different types of energy. Implementing reliable structure of the energy sector is essential issue and the state must be responsible for this," vice Prime Minister said.

Mr. Boyko also spoke about a number of steps taken by the Government of Ukraine for development of domestic fuel and energy complex.

"Ukraine has received 1 billion cubic meters of cheaper gas from Europe, and it will have about 1 billion cubic meters of gas more to the end of the year. Domestic gas production in Ukraine has increased approximately by 1 billion cubic meters. And we will also conclude final agreements with Chevron and ExxonMobil on gas production in the Black Sea soon. We have increased production of energy from renewable sources in four times. If we continue to stick to this rate, next year we will get so much energy from renewable sources that it would be equivalent to the work of two nuclear units," vice premier said.

He stressed that the Government of Ukraine will pursue plans for the development of domestic energy.

"We have ambitious plans and we are pleased that we are supported by the private sector. We will attract investments, introduce new technologies and develop a partnership between the Government of Ukraine and the companies that produce gas," Yuriy Boyko concluded.