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Crimean State Council nationalizes oil and gas enterprises on Crimean territory

March 17, 2014, 15:59 UTC+3 MOSCOW
Chernomorneftegaz Oil & Gas Company, Ukratransgaz, a division of Naftogaz of Ukraine, and the Feodosiya Enterprise assets are now property of the Republic of Crimea
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Oil extraction in Crimea (archive)

Oil extraction in Crimea (archive)

© ITAR-TASS/Anatoly Morkovkin

SIMFEROPOL, March 17. /ITAR-TASS/. Crimea’s parliament has nationalized the peninsula-based assets of the Chernomorneftegaz Oil & Gas Company, Ukratransgaz, a division of Naftogaz of Ukraine, and the Feodosiya Enterprise for the supply of petrochemical products at an extraordinary plenary session on Monday.

The parliament-adopted resolution says that all movable and immovable property of the state joint-stock company Chernomorneftegaz, its continental shelf and the exclusive (maritime) economic zone, is now the property of the Republic of Crimea.

“All property included or excluded from the Chernomorneftegaz authorized capital, including (Ukraine’s) state property which was handed over to Chernomorneftegaz for use and which is on its balance or off its balance sheet now belongs to Crimea“ the Crimean deputies said in the resolution “On Energy Security of the Republic of Crimea.”

The parliament adopted a similar resolution on movable and immovable property of the Ukrtransgaz Company based in Crimea.

The resolution says alongside that Crimean assets of the state-owned Feodosiya Enterprise for the supply of petrochemical products have been transferred to the Crimean ownership.

The Crimean Council of Ministers has given consent to the creation of a republican enterprise, Chernomorneftegaz, and the Crimean republican enterprise, The Feodosiya Enterprise for the supply of petrochemical products.

“The aforesaid enterprises have been nationalized with an aim to ensure ecological and energy safety, create conditions for extracting, storing and transporting hydrocarbons across the Crimean territory; supply Crimean residents with energy resources and ensure uninterrupted work of life-support facilities,” the Crimean parliament said in its resolution.

Crimea’s Supreme Council (parliament) on Monday voted for a resolution on Crimea’s independence from Ukraine by 85 votes to 100. The document also says that Crimea has asked Russia for permission to join it as a constituent entity.

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