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The Government has approved a document that leads to the completion of the unbundling of Naftogaz

February 14, 2018Today, the Cabinet of Ministers of Ukraine approved a document defining the exact terms of separation from the gas monopoly of Ukraine NJSC "Naftogaz of Ukraine" functions of transportation and storage of gas. The decision was approved today at a Government meeting.

The CMU resolution provides for a clear mechanism and timing for the transfer of Ukrtransgas's property to a new independent gas operator of Ukraine - PJSC "Main Gas Pipelines of Ukraine" to start a full-fledged operation.

These include, in particular, main gas pipelines, underground storage facilities, and service departments.

A decision by Naftogaz's shareholder, the Government of Ukraine, instructed the Company's Management Board and Ukrtransgaz and PJSC "Main Gas Pipelines of Ukraine" to immediately provide preparatory measures for the timely implementation of this Resolution of the Cabinet of Ministers, which will come into force after the final decision of the Stockholm Arbitration, which is scheduled for completion by the end of this month.

Independent operator of the gas transmission system of Ukraine - PJSC "Main gas pipelines of Ukraine" was created by the Government of Ukraine on November 9, 2016 to fulfill the requirements of the Third Energy Package of the EU.

The MGU shares are registered with the Securities Commission, properly financed by an independent operator, a clear list of assets required for its operation, and a step-by-step plan for their transfer. Also held a transparent competition for the selection of the independent Supervisory Board of PJSC "MGU".