The Cabinet of Ministers has approved a plan for restructuring Naftogaz Ukrainy, providing for the establishment of new enterprise Trunk Gas Pipelines of Ukraine in the structure of the Ministry of Energy and Coal Industry to operate the gas transportation system (GTS).
“The restructuring foresees the separation of a company to operate the GTS from the Naftogaz group and the creation of a new enterprise managed by the Energy Ministry. The plan also provides for the analysis of the activities of Ukraine’s underground gas storage facilities (UGS) and, according to the analysis, their separation into a new company [Underground Gas Storage of Ukraine also within the structure of the Energy Ministry],” the Ministry of Economic Development and Trade has said.
The ministry said the plan meets the requirements of the Third Energy Package of the EU.
Trunk Gas Pipelines of Ukraine and Underground Gas Storage of Ukraine will have own independent supervisory councils, while their management structure will be built according to the law on corporate governance.
