Report: Conflict damages and losses in Ukraine’s energy industry amount to 56.2 billion USD.

KIEV, 10 June (Xinhua) – Ukraine’s Energy Sector suffered damages and losses of 56.2 billion U.S. Dollars due to the Russia/Ukraine Conflict, according to a report released by the Kyiv School of Economics on Monday.

The report stated that by May 2024 the direct damages caused to Ukraine’s Energy Sector amounted 16.1 billion dollars. This was due to the destruction and loss of transmission facilities, oil and gas infrastructure and electricity generation equipment.

KSE estimates that the energy sector has lost approximately 40.1 billion dollars. The majority of these losses are due to the loss of revenues by energy companies.

According to the report the electric power industry suffered the most damage in the hostilities with 11.4 billion dollars of damages and 18.3 billions dollars in losses.

Oil and gas suffered significant losses and damages, with an estimated 3.3 billion dollar damage and 18.4 billion dollar loss.

According to KSE, Ukraine will need approximately 50.5 billion dollars to rebuild all destroyed energy facilities.

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