Naftogaz Expecting UAH 40 Billion Losses In 2022

The Naftogaz of Ukraine national joint stock company expects UAH 40 billion losses in 2022.

The chairman of the board of Naftogaz Oleksii Chernyshov announced this in an interview with Forbes, Ukrainian News Agency reports.

"We have preliminary results, we will have certain losses declared, if I am not mistaken, within UAH 40 billion," he said.

Chernyshov noted that Naftogaz supplies the main volume of natural gas to various categories of consumers, while in most categories there are special supply conditions and the price is regulated.

"The difference in price should be made up by the government at some point. These debts are certainly piling up, there's no compensation from the government for years, it's quite complicated... There are other debtors that we work with, we do certain restructuring to turn a "dead" debtor into a working asset, but the state part is defining," he noted.

As Ukrainian News Agency earlier reported, in the 1st half of the year, the Naftogaz of Ukraine group increased the loss 34.6 times to UAH 57.2 billion.

Naftogaz of Ukraine is a leading enterprise of the country's fuel and energy complex, which is engaged in exploration and development of fields, drilling, storage of oil and natural gas, transportation of oil, as well as supply of natural gas to consumers.