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Summary | Profile

Country profile: Ukraine

Location: Eastern Europe, bordering the Black Sea, between Poland, Romania, and Moldova in the west and Russia in the east
Climate: temperate continental; Mediterranean only on the southern Crimean coast; precipitation disproportionately distributed, highest in west and north, lesser in east and southeast; winters vary from cool along the Black Sea to cold farther inland
Terrain: most of Ukraine consists of fertile plains (steppes) and plateaus, mountains being found only in the west (the Carpathians), and in the Crimean Peninsula in the extreme south
Size: 603700 sq. km total (Land area: 603700 sq. km )
Population: 45,994,287 (July 2008 est.)
Languages: Ukrainian (official) 67%, Russian 24%, other 9% (includes small Romanian-, Polish-, and Hungarian-speaking minorities)
Government: republic
Capital city: Kyiv (Kiev)
Legal system: based on civil law system; judicial review of legislative acts; has not accepted compulsory ICJ jurisdiction
Currency: hryvnia (UAH)

Country profile

Ukraine's geographic position, linking East and West, while also holding critical warm water ports on the Black Sea, has made the country a trade link of growing importance between the former Soviet Union and Europe for energy and other goods. Ukraine is one of Europe’s largest energy consumers, and it consumes over twice as much energy per unit of GDP than Germany.

In 2005, almost half of Ukraine’s energy consumption came from natural gas, and over 75 percent of this natural gas came from Russia. Since 2004, the price of imported natural gas from Russia has almost doubled. The economic impact of these price increases on the economy will depend on the pace at which Ukraine can implement energy efficiency reforms. For a more in-depth discussion of the recent increases in natural gas prices and energy efficiency reform in Ukraine, please consult a February 2007 IMF

Energy production and consumption

Oil Gas
Production: 90,400 bbl/day (2006) 20 billion cu m (2006 est.)
Consumption: 284,600 bbl/day (2006) 73 billion cu m (2006 est.)
Exports: 214,600 bbl/day (2006) 4 billion cu m (2006 est.)
Imports: 469,600 bbl/day (2006) 57 billion cu m (2006 est.)
Reserves: 395 million bbl (1 January 2006 est.) 1 trillion cu m (1 January 2006 est.)
Major fields:

Ukraine - recent news

19 Apr 24
UK/Denmark: National Grid launches Viking Link, the next step towards a North Sea super-grid
Delivering a major milestone in the UK energy transition and the next step in creating a North Sea grid, National Grid has today formally launched Viking Link, a record-breaking 475-mile-long land and subsea cable connecting British and Danish energy grids for the first time.
17 Jan 24
Ukraine: DTEK purchases STRYDE seismic system for Ukraine oil and gas exploration
STRYDE has agreed a deal to provide Ukraine’s leading and biggest private energy operator, DTEK Oil&Gas with 30,000 STRYDE Nodes and its Nimble Systemto acquire 3D and 2D seismic surveys across the country.
06 Dec 23
UK: Serica Energy announces operations and organisation update
AIM-listed Serica Energy has provided updates on operations, production, licensing and organisation. The Company reports successful well campaigns on the Bruce and Guillemot fields during 2023.
04 Dec 23
Ukraine: Vestas and DTEK sign MOU on Ukraine’s largest wind energy project
Vestas and DTEK have today at COP28 signed a Memorandum of Understanding (MOU) to collaborate on the build out of the second phase of the Tyligulska wind project in the southern part of Ukraine. The agreement outlines the conditions and desire to build the 384 MW second phase of the Tyligulska wind project.
26 Nov 23
Ukraine: Naftogaz raises EUR 200 million from EBRD to strengthen Ukraine's energy security
Naftogaz has raised EUR 200 million from the EBRD to strengthen Ukraine’s energy security.

Ukraine - more news

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