Ukraine proposes foreign investors participate in $120 bln projects to restore energy sector

MOSCOW. July 6 (Interfax) - Ukraine hopes to restore its almost fully destroyed oil refining industry, including with the involvement of foreign investors, Ukrainian Energy Minister Herman Haluschenko said at an international conference in Lugano, Switzerland.

"We understand that we have a number of possibilities to invest in oil refining. We need that. And, of course, after the war, we'll need to either rebuild old refineries or implement new projects," Haluschenko said.

"Ukraine should be a successful example of using the best technologies that exist in the world in the energy sector," he said.

According to the press service for the Energy Ministry, Haluschenko presented potential investment projects in various energy sectors worth a total of over $120 billion in Lugano.

The main areas for investment in Ukraine's energy sector are nuclear power, renewable energy, and hydroelectricity, hydrogen and biofuel production, projects to increase the flexibility of energy systems and build shunting capacity, the development of power grids and energy infrastructure, production and transport of gas, and development of infrastructure to transport and refine oil, Haluschenko said.