"The secret of success is to know something nobody else knows"

Aristotle Onassis

Meeting: 1 December 2021, Ukraine's gas transit and European energy security: a pivotal role likely to endure?

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The last interactive discussion of the Brussels Energy Club have focused on the following topic:


"Ukraine's gas transit and European energy security:

a pivotal role likely to endure?"


This hybrid meeting took place in person at the Brussels Press Club* and online on Wednesday 1 December 2021, 6-8 pm, Brussels time. For details please scroll down.

*Please note that a Covid safe pass will be required to access this meeting


With a key intervention from:

Yurii VitrenkoYuri Vitrenko 

CEO of Naftogaz Group since 29 April 2021







As the year 2021 draws to a close on the back of the high-profile COP 26 climate meeting in Glasgow, the question of the gas supply to Europe has once again dawned upon us. While the climate debate continues to dominate the European media, energy consumers in the UK and continental Europe have been largely caught out by the recent surge in energy prices. The high prices, however, are clearly worrying for many on the continent. Some experts now advocate the need for Russia's Nord Stream II gas pipeline, believing that its launch can help alleviate the supply crunch. Others, feel that Russia should continue to ship more gas through the existing supply routes to Europe, including Ukraine's mainstream gas transmission network. We know from past experience that these types of debates tend to gather momentum during the run up to Christmas.

In our next BREC meeting we return to an in-person format and have invited Yuri Vitrenko for a frank discussion about some of the emerging challenges in the European energy markets. Many of us are familiar with the importance of Ukraine as a transit country for Russian gas supplies to Europe, a role that has been put under pressure by the commissioning of the Nord Stream I and II gas pipelines. That said, Ukraine remains an important part of any sustainable solution to European energy crises, as we have seen during supply disruptions in the past. During the ensuing BREC session, Yuri Vitrenko will elaborate on how Ukraine's gas pipeline operator, Naftogaz, sees its role in the European gas supply picture looking ahead. This will allow us to hold a frank debate as to whether Ukraine"s pivotal role in European energy security is likely to endure — a question which continues to hold strategic value for Europe, for Russia and particularly for Ukraine.


Speaker information 

Yuriy Vitrenko has many years of management experience in the energy sector and investment banking. From December 2020 to April 2021, he served as Acting Minister of Energy of Ukraine.

Before his appointment to the Ministry, Yuriy spent six years at the Ukrainian national oil & gas company "Naftogaz of Ukraine", holding different positions there, including Executive Director (2018-2020), Chief Commercial Officer (2016-2018), Director for Business Development (2014-2016). On those positions, he focused on reforming the energy sector and ensuring Ukraine's energy security.

Among Yuriy"s most important accomplishments are the successful arbitration cases against Gazprom which were resolved in accordance with the rules of the Arbitration Institute of the Stockholm Chamber of Commerce, as well as diversifying sources of natural gas which allowed Ukraine to eliminate its critical dependence on Gazprom. He initiated and successfully led the implementation of projects on developing a competitive wholesale gas market in Ukraine and its integration into the EU market.

Previously, Yuriy was CEO at the investment company AYA Capital and COO at private equity fund Amstar Europe, a subsidiary of the US-based investment management company Amstar (2008-2010). In 2005-2006, Yuriy was an Associate at the London office of investment bank Merrill Lynch.

Yuriy started his career at PricewaterhouseCoopers LLC (1998-2002) as a Senior Consultant in the Management Consulting Services Department after graduating from Kyiv National University of Economics.

Yuriy holds an MBA from the INSEAD international business school (France, Singapore).


Further information and participation

Address: Brussels Press Club, Rue Froissart 95, Brussels 1000, www.pressclub.be

Please note that a Covid safe pass (e.g. either proof of vaccination or a negative PCR test) will be required to access this meeting.

The number of participants might be limited on a first-come basis.

You can also join us at the meeting discussion via a Zoom video link, which will be sent automatically to all registered participants.

Please contact us on info@brusselsenergyclub.org for more information. 

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