How to Invest in Ukraine's Energy Sector and Protect Investments: LCF Law Group Discussion at LIDW 2026
LCF Law Group, together with British barristers' chambers 5 St Andrew's Hill, hosted two official events at London International Disputes Week 2026 (LIDW) — one of the world's leading forums on international dispute resolution. The events took place at the Old Bailey — the historic building of the Central Criminal Court of England and Wales, one of the most iconic institutions of the British legal system. The panel discussion 'Energy Investments in Ukraine: Power, Risks and Resolving Disputes' and an evening reception brought together representatives of the legal, energy, and investment communities.
At the heart of the discussion was a question of interest not only to lawyers but to business at large: how to invest in Ukraine's energy sector in a way that is commercially viable, legally sound, and accessible to international capital.
Lawyers, investors, energy sector representatives, and dispute resolution specialists from the UK, Europe, and beyond discussed the Ukrainian energy market as one where significant risks and equally significant opportunities coexist.
Ukraine — an Energy Market with Long-Term Potential
The reconstruction of Ukraine's energy infrastructure and the development of renewable energy are increasingly attracting the attention of international investors, developers, financial institutions, and energy companies. This is no longer merely a matter of restoring what has been destroyed — it is about the future architecture of the energy market: more flexible, resilient, and integrated into the European space.
At the same time, any investment decision today cannot be considered in isolation from questions of security, sanctions compliance, project financing, and dispute resolution mechanisms.
These topics formed the backbone of a discussion that combined legal, commercial, and industry perspectives: from the opportunities of the Ukrainian market to its impact on European energy security.
What the Speakers Discussed
The discussion was opened by Ivan Bondarchuk, Partner and Head of the Energy & Projects practice at LCF Law Group. He outlined the current state of Ukraine's energy sector: the scale of infrastructure damage from Russian attacks, the acute need for new generating capacity, and the opportunities emerging in renewable energy, energy storage systems, and distributed generation. As of January 2026, available generation in Ukraine is estimated at 11 GW, while approximately 18 GW is needed to meet peak winter demand.
Meanwhile, the market is not standing still. Since 2022, more than 500 MW of wind capacity and over 500 MW of energy storage systems have been commissioned in Ukraine. A further 4.5 GW of wind projects are in the development pipeline. This shows that Ukraine's energy sector today is not only about restoring what has been destroyed — it is about building a new, more resilient energy system.
He also addressed what concerns investors most: military, political, regulatory, financial, and operational risks. Capital does not fear complex markets. It fears opaque rules and risks that cannot be quantified.
Natalia Delone, Senior Business Manager at Centrica Energy, shared the experience of one of Europe's leading energy companies: how investors and energy traders assess risks, enter into long-term offtake contracts, and identify opportunities in the global energy transition. Her presentation offered an investor's perspective on the conditions needed to attract international capital to large energy projects.
Gary Pons, Barrister at 5SAH, explored the growing role of sanctions in international business. Drawing on recent rulings of the English courts, he showed how sanctions regimes affect contract performance, enforcement strategies, and dispute resolution mechanisms, and what businesses should consider when structuring transactions in a volatile geopolitical environment.
In particular, the discussion covered situations where sanctions may block payment obligations under contracts, complicate the enforcement of arbitral awards, or give rise to a dispute over a sanctions clause in an agreement. The practical advice for business: sanctions risks should be built into a deal from the outset — not after a payment has stalled or a counterparty can no longer perform its obligations.
Ben Keith, Barrister at 5SAH, analysed the broader international legal context of cross-border investments. Drawing on extensive experience in sanctions, international law, and politically sensitive disputes, he outlined the legal tools available to businesses operating in challenging jurisdictions and emphasised the importance of proactive risk management.
The discussion was brought to a close by Olga Kostyshyna, Partner and Head of the International Arbitration practice at LCF Law Group. She focused on investment protection: contractual safeguards, international arbitration, and strategic legal planning as instruments that protect investors' interests and enhance the bankability of projects in high-risk environments.
In other words, a well-prepared project must be comprehensible not only to the investor, but also to the bank, the partner, the insurer, and the potential arbitrator. That is what distinguishes an idea from an investment asset.
The Key Conclusion
Ukraine's energy sector today is seen not only through the lens of reconstruction, but as a long-term investment market with significant growth potential. At the same time, successful investment in these conditions requires thoughtful risk management, robust legal structuring, and access to effective dispute resolution mechanisms.
Evening Reception at the Old Bailey
After the panel discussion, guests gathered in the Grand Hall of the Old Bailey to continue networking in an informal setting. The reception brought together representatives of law firms, energy companies, financial institutions, and international organisations to network and exchange views on Ukraine's reconstruction and the future of its energy sector. Guests also had the opportunity to join tours of the Old Bailey — a building that for over a century has stood as a symbol of British justice and the venue for the most high-profile criminal cases in England and Wales.
LCF Law Group sincerely thanks all speakers, guests, and colleagues who joined these events, as well as 5SAH for their partnership in delivering the programme as part of London International Disputes Week 2026.