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Ukraine launches Naftogaz Ukrainy reorganization

Ukrainian Minister Boiko noted that Naftogaz will be divided in three companies and the government already decided to form a relevant committee

KIEV, September 29 (Itar-Tass) —— Ukraine launched the reorganization of the Naftogaz Ukrainy national joint stock company to be divided into several specific companies, Ukrainian Minister of Energy and Coal Industry Yuri Boiko said at the opening of an international conference devoted to Ukrainian-EU relations on the path to a common energy market here on Thursday.

He noted that Naftogaz will be divided in three companies and the government already decided to form a relevant committee. “We are preparing to divide it in three independent divisions: a transportation company, a production company and a supplying company. The process was already launched: our government decided to form a relevant committee,” the minister said, recalling that the reorganization issue is Ukraine’s commitment, which the country assumed joining the European Energy Community.

Boiko urged foreign companies to involve in the project to modernize the Ukrainian gas transportation system.

For his part, Director General of the European Commission Directorate-General for Energy Fabrizio Barbaso noted that the European Union welcomes the Naftogaz restructuring as an important aspect of the reforms in Ukraine joining the European Energy Community.

Meanwhile, he noted that the Naftogaz reorganization should be carried out strictly under the country’s commitments and the Naftogaz contract liabilities should be fulfilled.

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