Economy 2021-06-15T06:37:41+03:00
Ukrainian news
Cabinet Approves Transfer Of Ukrainian GTS Assets From Ukrtransgaz To Energy Ministry

Cabinet Approves Transfer Of Ukrainian GTS Assets From Ukrtransgaz To Energy Ministry

Cabinet of Ministers, assets, Ukrtransgaz, transfer, Ukrainian gas transport system, GTS, Ministry of Energy and Coal Industry

The Cabinet of Ministers of Ukraine has approved transfer of assets of the Ukrainian gas transport system (GTS) from the Ukrtransgaz public joint-stock company, the operator of the Ukrainian gas transport system, to the Ministry of Energy and Coal Industry of Ukraine.

Respective decision was taken at the meeting of the Ukrainian Government on Wednesday, February 14, Ukrainian News Agency reports.

According to the draft resolution, the said assets will further be handed over to the Main Gas Pipelines of Ukraine public joint-stock company.

In compliance with the resolution, the Naftogaz of Ukraine national joint-stock company has to ensure the transfer before June 1, 2018.

The resolution takes effect 10 days after the enactment of rulings by the Arbitration Institute of the Stockholm Chamber of Commerce (SCC; Sweden) in the dispute between Naftogaz of Ukraine and the Russia's gas monopoly Gazprom on the contracts signed in 2009-2019.

The resolution was adopted along with supplement protocol decision.

Board Chairperson of Naftogaz of Ukraine Andrii Kobolev states that the transfer of the underground gas storage facilities (USF) and non-profile assets of Ukrtransgaz to the Main Gas Pipelines of Ukraine will resist participation of foreign partners in management of the Ukrainian GTS.

As Ukrainian News Agency earlier reported, in 2015, the Cabinet of Ministers of Ukraine initiated reformation of the Naftogaz of Ukraine national joint-stock company in order to meet demands of the Third Energy Package of the European Energy Community that envisions differentiation of functions of extraction, transportation and fuel supplies to end consumers.


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