Energy Cooperation and Single Market Agreement 

by Roman Cheplyk
Friday, February 3, 2023
Energy Cooperation and Single Market Agreement 

On February 2 Ukraine signed 2 important agreements with European Union 

For the first time in the history of the Ukrainian path to the European Union, before the first day of a summit on reforms and membership in the organization, important documents were signed. The signing of important documents was announced by the prime minister of Ukraine Denis Shmyhal.

Ukraine and the EU signed a memorandum of partnership in the gas sector. The official agreement concerns the development of partnerships in the transmission of biomethane, hydrogen, recovered, and other synthetic gasses.

"This is very important for our energy and cooperation," Shmyhal said in a statement to the European Commission.

In addition, Ukraine has reached the path of facilitating access to markets in the EU countries. Ukraine in the face of Shmyhal signed the Single Market Agreement. According to the text of the document, the program is designed for 7 years. It is expected that participation in this program will contribute to business development and competitiveness. The result of the merger of European and Ukrainian markets will be an increase in the indicators of Ukrainian economic sectors. It is noted that €4.2 billion is allocated for the implementation of the Single Market.

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