First Deputy Prime Minister of Ukraine – Minister of Energy Denys Shmyhal addressed a meeting of Club de Madrid, an international organisation bringing together former heads of state and government. The event focused on current challenges facing energy systems and visions for a modern energy architecture.
According to Denys Shmyhal, the new global energy agenda can be distilled into four principles:
- Protection: built into every new energy facility.
- Diversification: an architecture that eliminates dependence on any single supplier, route or technology.
- Risk mitigation: state guarantees, insurance against war and political risks, international financial institutions and long-term contracts.
- Fair distribution of the value created: ensuring that a share of this value remains in the communities where the value chain begins.
“The particular value of Club de Madrid lies in its ability to bring leaders together to help build trust between countries. Businesses can turn that trust into production, while financial institutions can enable projects to get off the ground. We aim to turn trust between our countries into joint action and tangible results,” Denys Shmyhal emphasised.
He thanked Charles Michel for the invitation, as well as the event organisers, Jay Tannon and Laura Chapman.
