EU to support Ukraine's Energy Efficiency Fund – PM Groysman

"We allocate UAH 2 billion, of which UAH 400 million is in 'warm loans.' Moreover, UAH 1.6 billion is allocated for large-scale energy modernization projects," the head of government said, according to the Cabinet press service.

"The Energy Efficiency Fund will start its work in January. We also expect (in addition to budget allocations) our European partners to provide their assistance to the Fund. There is a decision on the disbursement of EUR 100 million, that is approximately UAH 3 billion. This tranche will be divided into several periods. Last week I visited Brussels and talked about expanding the EU funding of our energy efficiency programs," Groysman added.

He placed an emphasis on the fact that energy modernization projects would be implemented together with programs for the introduction of efficient resources consumption, as well as a significant increase in the production of domestic gas. Groysman stressed that discovered deposits in Ukraine allow to completely satisfy the country's needs for fuel. Hence, the government's task is to create conditions for the restoration and revival of national gas production.

Read alsoUkrainian delegation in Sweden learns about energy efficiencyAccording to the official, a first step will be the reduction of rental rates, depending on the depth of the well.

"This year the country's wells have increased by about 650 million cubic meters. Reducing rent will be a good incentive for a significant rise in production," he said.

Read alsoNaftogaz makes first move to unbundle gas shipmentsThe prime minister noted that the provision of own energy resources would allow reaching the primary objectives, that is to achieve a full energy independence, a reduction in the price of fuel within the country and the transformation of Ukraine from a net importer to an exporter of gas.