C.K. Chyong quoted in “Deeper Reforms Needed for Ukrainian Gas Market”, 12 June 2015

C. K. Chyong was quoted in an article “Deeper reforms needed for Ukrainian gas market” published in ICIS website newsletter – the world largest petrochemical market information provider that covers Energy among other subjects.

 

“The Ukraine’s new gas market law will have little impact on the transparency and efficiency of the country’s gas sector if it is not supported by substantial secondary legislation, experts agree.

The Ukrainian parliament approved the new gas market legislation in April to align the country with EU energy market rules (see ESGM 15 April 2015), but “much more secondary legislation is needed to really make the gas market reform effective”, said Chi Kong Chyong, director of energy policy at the University of Cambridge.

The EU agreed to lend €1.8bn in €600m instalments to the Ukraine if the country overhauls its gas sector to rein in state intervention and develop a traded market. The list of reforms is long and pose challenges, some key points include:

1: A draft to reform the energy regulator NERC is expected to be voted on next week, which would be a major achievement as the regulator is playing a key role in the implementation of the new gas law, said Agata Loskot-Strachota, senior fellow at the Centre for Eastern Studies. Chyong highlighted the need for the regulator’s independence in order to detach political weight from economic decision-making”.

The full text of the article can be found here

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