7. UKRAINIAN PRESIDENT ISSUES DECREE RAISING FUEL RATES


Interfax-Ukraine news agency, Kiev, Ukraine, in Russian 29 Dec 05
BBC Monitoring Service, UK, in English, Thursday, Dec 29, 2005

Ukrainian President Viktor Yushchenko has issued a decree raising fuel
prices to an “economically substantiated level” for all customers. The
decree set energy efficiency and the use of alternative and renewable
sources of energy as priorities for the state energy policy. Yushchenko also
called for building a facility to store used nuclear fuel in Ukraine.

The following is an excerpt from a report by Interfax-Ukraine news agency:

Kiev, 29 December: Ukrainian President Viktor Yushchenko has signed a
decree “On the state of Ukraine’s energy security and basic principles of state
policy to ensure it”, the presidential press service said today.

The decree implements a decision of the National Security and Defence
Council [NSDC] of 9 December 2005 “On the state of Ukraine’s energy
security and basic principles of state policy to ensure it”.

The decree approves the main directions of state policy on Ukraine’s energy
security, which were approved by the NSDC.

The priority tasks of state policy on energy security are: implementing
energy-efficient investment projects, aimed at decreasing the use of energy
resources per unit of production in the fuel and energy sector, industries,
agriculture, utilities and households.
The decree also says that it is necessary to increase the extraction of oil,
gas, liquefied gas and coal.

It is planned to improve the efficiency of fuel usage, in particular, to
introduce the domestic technology of circular boiling layer in coal furnaces
and arch furnaces, use non-traditional and renewable sources of energy and
extract more methane at coal mines.

Yushchenko ordered in his decree that fuel prices and rates for all
customers should be set at an economically substantiated level.

The president also ordered steps to diversify the sources of fuel and its
transportation routes, in particular, by implementing the Eurasian oil
transport corridor, completing the Odessa-Brody pipeline to Plock, ensuring
that the pipeline is used in the European direction and attracting
international oil companies to the project.

The implementation of the decree will facilitate the integration of the
Ukrainian energy system into the trans-European system and will facilitate
further development of main oil and gas pipelines.

Yushchenko mentioned in the decree the necessity to create a full nuclear
cycle in Ukraine and build a facility big enough to store used nuclear fuel,
to complete the Dniester and Tashlyk hydro-accumulation power plants and
build a modern oil-processing facility with a high level of refining, in
particular for Caspian oil.

[Passage omitted: Yushchenko instructs the government to review Ukraine’s
energy strategy for the period until 2030]

Yushchenko also ordered the Cabinet of Ministers to set the terms for and
amounts of Russian gas transit through Ukrainian territory and to submit to
parliament a draft law on re-evaluating the assets of energy companies.

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