PROSPECTS FOR COOPERATION BETWEEN THE EUROPEAN UNION AND UKRAINE IN THE CONDITIONS OF GLOBALIZATION OF ENERGY MARKETS

Abstract

The article analyzes the prospects of cooperation between the EU and Ukraine in the context of globalization of energy markets. Cooperation between Ukraine and the EU in the energy sector is aimed at strengthening of energy security, competitiveness and sustainability, which is a complete condition for economic growth and provision of moving towards a market economy. This cooperation is based on partnership that covers all areas of cooperation in this area, guided by the following principles of coincidence of interest, reciprocity, transparency and predictability; by Energy Charter Treaty of 1994, Memorandum of Understanding on  Cooperation in the field of Energy, Association Agreement between the EU and Ukraine, as well as other bilateral agreements. Therefore, for Ukraine in the implementation of energy independence policy, it is extremely important to integrate its united energy system into the European Transmission System Operators. For this purpose the Program of Activities of the Cabinet of Ministers of Ukraine was adopted by the Resolution of the Verkhovna Rada №26-VIII in December 11, 2014. Implementing this document, on June 28, 2017, NPC Ukrenergo together with the system operators, that are part of the ENTSO-E Regional Group “Continental Europe”, concluded an “Agreement on the conditions for the future integration of the energy systems of Ukraine and Moldova with the energy system of continental Europe”. In September 2019, the so-called Service Contract was concluded between NPC Ukrenergo and the Consortium of System Operators of ENTSO-E. On February 13, 2019, in Brussels,  Agreement on participation of NPC Ukrenergo in the European Transmission System Operators Cooperation Program outside the membership for 2019-2021 was concluded. This program creates conditions for exclusive cooperation between ENTSO-E and NPC Ukrenergo. Its goal is to develop a basis for acquiring skills and cardinal practices from the most important issues for NPC Ukrenergo to join ENTSO-E. For the first time since independence, Ukraine has created a significant prospect in a relatively short period of time to take steps to strengthen its energy security and fully integrate with the European energy market. NPC Ukrenergo plays a crucial role in the accession of the UES of Ukraine to ENTSO-E. This process requires all stakeholders to provide opportunities to meet the requirements of the energy system and market participants.