On 14 November, Kyiv hosted a major brainstorming session with business and political leaders, focusing on how Ukraine can transition from being one of the world’s most promising economies to becoming a key player on the global stage. Discussions centred on opportunities for the future, attracting investments, and driving GDP growth.
Charles (Chuck) Valeskini, Non-Executive Chairman of Enwell Energy, took part in the forum, expressing his strong belief in Ukraine’s untapped energy potential. He emphasised how the country`s energy sector could play a crucial role in not only accelerating Ukraine’s integration with Europe but also attracting vital investment to boost the economy.
Chuck noted that Enwell Energy, a British public company with years of experience in Ukraine, has contributed significantly to developing the nation’s energy infrastructure and ensuring its energy independence. The company actively operates in the Poltava and Kharkiv regions through its subsidiaries, Regal Petroleum and Arkona Gas-Energy, holding appropriate licences and conducting hydrocarbon extraction. Over the years, Enwell Energy has invested heavily to strengthen Ukraine’s energy independence and stability.
He spoke about Ukraine`s potential to become a major player in the European energy market but emphasised that this can only be achieved through a stable regulatory framework, a transparent investment climate and fair decision-making processes. He pointed to the wide-ranging benefits of unlocking this potential: economic growth, a stronger role in Europe, and a more secure energy landscape for Ukraine households. However, Chuck didn't shy away from addressing the challenges. He called attention to issues like regulatory unpredictability and sanctions affecting investors. One key concern he raised was about the inclusion of certain shareholders on sanctions lists, without clear justification. This, he explained, doesn't just harm companies like Enwell Energy, but also damages international confident in Ukraine. To encourage investment, he stressed the need for transparency and fairness in regulatory decisions.
As an example, Chuck explained that if the company’s operations were suspended due to licence issues or other regulatory hurdles, Ukraine’s state budget could lose nearly 400 million UAH in revenues in just one heating season. Additionally, 50 million cubic metres of natural gas—enough to keep thousands of Ukrainian households warm would remain unused. He firmly advocated for a review of such decisions and a transparent process to ensure fair treatment.
Despite these challenges, Chuck reaffirmed Enwell Energy`s commitment to Ukraine. The company persists in its operations, contributes taxes to the state budget, and invests in initiatives to guarantee uninterrupted heating supply for Ukrainian households. He also encouraged other investors to join Ukraine's development efforts.
In closing, Chuck called on stakeholders in Ukraine to create the right conditions to attract investment, including predictable regulations and transparent environment. He concluded by saying: "Ukraine is worth betting on. I truly believe that, through joint efforts, we can make Ukraine not only a regional leader but also a hub of energy innovation and economic prosperity in Europe.”.
