Visiting Ukrainian President Petro Poroshenko says consideration is being given to Australia supplying his country with uranium.

While it's guaranteed the move would attract controversy given the 1986 Chernobyl disaster, Prime Minister Tony Abbott says it would be good for jobs and prosperity in both nations.

Energy security is a vital issue for Ukraine, which relies heavily on hostile neighbour Russia for gas and has difficulty shoring up supplies of uranium and coal.

More than 40 per cent of its power comes from 15 nuclear plants.

Another two reactors are planned and a further 11 proposed.

Opposition Leader Bill Shorten says it's too early to make a call about any deal but he is not ruling out Labor's support.

Mr Poroshenko received a warm welcome in Melbourne on Thursday, having worked closely with Mr Abbott on the MH17 disaster investigation.

He will on Friday deliver a keynote address at the Lowy Institute for International Policy in Sydney.

© AAP 2014