OREANDA-NEWS. November 23, 2015. Minister of Energy and Coal Industry of Ukraine Volodymyr Demchyshyn is taking part in annual Energy and Economic Summit, which takes place in Istanbul, Republic of Turkey.

According to the visit agenda, Volodymyr Demchyshyn met with the European Commissioner for Energy and Climate Action Miguel Arias Ca?ete. During the meeting the interlocutors discussed issues of efficient loading of the Ukrainian energy system (in particular, gas transit network) with the view to the process of transformation of Ukrainian market to comply with European standards; the stage of elaboration of bills on the regulator and the energy market; future Memorandum of cooperation between Ukraine and the EU in the energy sector.

Volodymyr Demchyshyn noted that the new market provides additional opportunities primarily for the European countries and for European security as a whole. He added that Ukraine is changing from being a historic transit country for Russian gas into a liquid market of the EU that can be the basis for strengthening of Europe's energy security.

The stance of the European Commission was that the Memorandum is crucial and it should fix not just the commonplace “topics” of cooperation, in particular gas, the GTS, the "winter" or "summer" packages, but interesting strategic directions that will enable expanding cooperation between Ukraine and the EU in the energy sector.

It should be noted Minister Volodymyr Demchyshyn is scheduled to speak during discussion of the Atlantic Council’s Report on energy security in the Black Sea region.

In the framework of the summit Minister V. Demchyshyn is to hold a series of meetings, namely with Minister of Energy of the Republic of Bulgaria T. Petkova and the former U.S. Ambassador to Azerbaijan Richard Morningstar, the founder of the AC.