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

Aristotle Onassis

Meeting: March 11, 2015: Ukraine's Gas Industry Reform: Towards a Market or a New Monopoly?

This interactive discussion of the Brussels Energy Club addressed the topic of:

"Ukraine's Gas Industry Reform: Towards a Market or a New Monopoly?"

And took place on Wednesday, March 11, 2015 from 4.30pm @ TUSIAD Avenue des Gaulois, 13, Brussels 1040



With special guest speaker


Philip Vorobyov

Philip Vorobyov

Commercial Executive, JKX Oil & Gas, London






Ukraine's government, taking into account its current imbroglio with Russia, appears to be taking a very pro-Western political stance. Is Ukraine's seemingly Europe-bound political choice reflected in its treatment of investors in the energy sector, both foreign and domestic, however? Kiev is committed to deepening reform of its gas markets, taking into account various institutional arrangements with Brussels, but when it comes down to the "nitty-gritty", what is really happening "on the ground"?

The country's investment climate in the oil and gas sector, and in other sectors, for that matter, has generally not been seen as too "crash hot" during its years of transition to a market economy. While we could, in principle, expect to see some improvements in the country's investment climate (in the energy markets) under the current government, is this really the case? Our guest speaker, Philip Vorobyov from JKX Oil and Gas, attempted to evaluate these questions in our usual, rigorous manner. 


Program March 11, 2015 — 16.30-20.00: 

  • Arrival of members and guests leading into welcome cocktail   
  • Welcoming remarks by Dr Bahadir Kaleagasi, Chairman, Brussels Energy Club
  • Setting out the debate by Dr Marat Terterov, Executive Director, Brussels Energy Club
  • Presentation by Philip Vorobyov, Commercial Executive, JKX Oil and Gas
  • Reflections and remarks by members and guests of the Brussels Energy Club, leading into Q/A session (NB: all discussions during the session will take place under the Chatham House Rule).
  • Buffet supper reception and networking opportunities with the speaker


Speaker information

Philip Vorobyov is responsible for business development at JKX Oil & Gas. He has written and presented extensively on the energy markets and the role of independent producers in Ukraine and Russia. Prior to joining JKX, Philip worked for TNK-BP Gas & Power division where he performed a number of senior roles including head of strategy, business development and regulatory affairs. He was also Associate Director for Russian and Caspian Energy at Cambridge Energy Research Associates (CERA). Philip holds an MA from Harvard University and a BS from Georgetown University.

JKX Oil & Gas is a London-listed independent E&P company operating in Ukraine, Russia, Hungary and Slovakia. JKX was Ukraine's first foreign investor in the oil and gas sector with operations beginning in 1993. On February 16, 2015 JKX announced it was initiating arbitration proceedings against Ukraine on the basis of the Energy Charter Treaty and bilateral treaties between the UK, Netherlands and Ukraine. Please visit http://www.jkx.co.uk/ for more information. 


Further information

Participation in the interactive discussion at TUSIAD venue will be free of charge for members and guests of the Brussels Energy Club. For more information please contact Mr Martin Minarik on industry@brusselsenergyclub.org and/or Mr Ben McPherson on research@brusselsenergyclub.org, or visit the contacts section of our website.

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