Canada pledges $547 million for Ukraine’s emergency gas needs
Canada will provide Ukraine with 757 million Canadian dollars (more than 547 million U.S. dollars) to support emergency natural gas purchases and build up necessary reserves ahead of winter.
Denys Shmyhal, First Deputy Prime Minister and Minister of Energy of Ukraine, announced this on Facebook after signing a Joint Statement on Deepening Energy Cooperation, CE Report quotes Ukrinform.
He specified that the funds will be provided through programs of the European Bank for Reconstruction and Development.
“We welcome the dialogue on long-term agreements for LNG supplies from Canada to Ukraine,” the deputy prime minister stated.
Also, according to the signed statement, he said, Canada will provide an additional 10 million Canadian dollars to the Energy Support Fund. Thus, its total contribution will reach 100 million Canadian dollars.
Among other things, the agreement provides for the development of a strategic partnership between Ukraine’s Energoatom and the Canadian mining company Cameco regarding long-term uranium supplies and conversion services through 2035.
“Export Development Canada is allocating 200 million Canadian dollars to support priority projects in Ukraine, including those in the field of hydropower infrastructure. We are continuing to exchange information and expertise on the modernization of the power system, hydropower, energy storage technologies, infrastructure reconstruction, and improving the resilience of power grids,” Shmyhal said.
He added that the parties are also developing a dialogue on the participation of the Canadian private sector in the reconstruction of Ukraine’s energy sector, particularly in the areas of energy equipment, engineering services, technical expertise, digital technologies, cybersecurity, and operational resilience.
As reported, Ukraine and Canada signed a series of bilateral documents, including a Declaration on a Centennial Partnership and a statement on energy cooperation.
Photo: Office of the President of Ukraine
