LCF Law Group at LIDW 2026: Ukraine’s Energy Sector as a Long-Term Investment Market

LCF Law Group and 5 St Andrew’s Hill co-hosted two official London International Disputes Week 2026 events at the Old Bailey, the historic building of the Central Criminal Court of England and Wales and one of the most recognisable institutions of the British legal system. The programme featured a panel discussion, “Energy Investments in Ukraine: Power, Risks and Resolving Disputes”, and an evening reception, bringing together leaders from the legal, energy, investment, and dispute resolution sectors.

Legal practitioners, investors, energy-sector representatives, business leaders, and dispute resolution professionals from the United Kingdom, Europe, and beyond gathered to address a central question for international investors: how to invest in Ukraine’s energy sector in a commercially viable and legally secure way.

Ukraine’s reconstruction of its energy infrastructure and development of renewable projects are attracting growing interest from international investors, developers, financial institutions, and energy companies seeking long-term opportunities. This is no longer only a matter of restoring damaged infrastructure, but also of shaping a more flexible, resilient, and European-integrated energy market.

However, investment decisions remain closely linked to security, sanctions compliance, project financing, and dispute resolution. The panel offered legal, commercial, and industry perspectives on the opportunities and challenges shaping Ukraine’s energy market and their broader impact on European energy security.

Ivan Bondarchuk, Partner and Head of Energy & Projects at LCF Law Group, opened the discussion by outlining the current state of Ukraine’s energy sector. He highlighted significant infrastructure damage from Russian attacks, the urgent need for new generating capacity, and emerging opportunities in renewables, battery storage, and distributed generation.

According to figures presented during the panel, as of January 2026, Ukraine’s available generation capacity was estimated at 11 GW, while approximately 18 GW is required to cover winter peak demand. At the same time, the market continues to develop: since 2022, Ukraine has commissioned more than 500 MW of wind capacity and more than 500 MW of battery energy storage systems, with a further 4.5 GW of wind projects in the development pipeline.

He also addressed practical challenges for investors, including military, political, regulatory, financing, and operational risks. In particular, he noted that complex markets can attract capital when risks are identifiable, assessable, and supported by transparent and predictable rules.

Natalia Delaunay, Senior Business Manager at Centrica Energy, then shared insights from one of Europe’s leading energy companies. Drawing on Centrica Energy’s international experience, she discussed how investors and energy traders assess risk, secure long-term offtake agreements, and evaluate opportunities from the global energy transition. Her remarks provided an investor perspective on the conditions needed to attract international capital to large-scale energy projects.

Gary Pons, Barrister at 5SAH, explored the growing importance of sanctions in international business and investment. Reviewing recent English court decisions, he examined how sanctions regimes affect contractual performance, enforcement strategies, and dispute resolution mechanisms. He also outlined practical considerations for businesses when structuring transactions in a rapidly changing geopolitical environment.

In particular, the discussion addressed situations where sanctions may block contractual payment obligations, complicate the enforcement of arbitral awards, or give rise to disputes concerning sanctions clauses. This underscored the need to address sanctions risks at the transaction-structuring stage, rather than only after a payment has been blocked or a counterparty is unable to perform its obligations.

Ben Keith, Barrister at 5SAH, followed by addressing the broader international legal environment in which cross-border investments operate today. Drawing on his extensive experience in sanctions, international law, and politically sensitive disputes, he discussed the legal tools available to businesses operating in complex jurisdictions and underlined the importance of proactive risk management in international projects.

Concluding the discussion, Olga Kostyshyna, Partner and Head of International Arbitration at LCF Law Group, focused on investment protection and dispute resolution mechanisms for international investors. She addressed contractual safeguards, international arbitration, and strategic legal planning as tools for protecting investor interests and improving the bankability of projects in high-risk environments.

A well-structured project must be clear not only to investors, but also to banks, partners, insurers, and, where necessary, arbitral tribunals. This is what helps turn a project idea into an investable asset.

A key conclusion was that Ukraine’s energy sector is now seen as a long-term investment market with significant growth potential, rather than merely a reconstruction effort. Successful investment requires sophisticated risk management, robust legal structuring, and effective dispute resolution mechanisms.

Following the panel, guests gathered in the Grand Hall of the Old Bailey for an evening reception — an opportunity to continue the conversation in a more informal setting. The reception united representatives of law firms, energy companies, financial institutions, investors, and international organisations to network and exchange views on Ukraine’s reconstruction and future energy development.

Guests also had the opportunity to join guided tours of the Old Bailey, a building that has been a symbol of British justice for more than a century and the venue for some of the most significant criminal cases in England and Wales.

LCF Law Group extends its sincere thanks to all speakers, guests, and colleagues who contributed to the success of these events, and to 5SAH for its valued partnership in delivering this programme during London International Disputes Week 2026.

As international interest in Ukraine’s energy sector continues to grow, dialogue between investors, industry leaders, and legal advisers will remain critical to unlocking new opportunities and supporting the country’s long-term economic recovery and energy transformation.