First Independent Exchange (Kyiv) has filed a claim to the economic court in Kyiv asking to cancel a decision of the Energy and Coal Industry Ministry of Ukraine to transfer auctions to sell oil, gas condensate and liquefied gas extracted in Ukraine to another trading site.
According to a court ruling published in the state ruling register the hearing of the case will be held on July 11.
According to the agreement with the ministry, First Independent Exchange from June 2013 organized trading with Ukrainian energy resources. According to the sources on the market, the exchange’s fee was around 0.5 percent of the sum of the deals.
In May 2014, when Ukrainian president fled from Ukraine, the Energy and Coal Industry Ministry unanimously canceled the agreement with First Independent Exchange, referring to the improper fulfillment of the conditions of the contract by the exchange.
Shareholders in the exchange are Gas Ukraina-2020 and Ukrenergorynok LLC, which Security Service of Ukraine (SBU) affiliates with Serhiy Kurchenko who was put on the wanted list.
As reported, according to Ukrainian law, oil, gas condensate and liquefied gas produced by Ukrgazvydobuvannia and Ukrnafta themselves or in JV with partners are to be sold via the exchange empowered by the Energy and Coal Industry Ministry.
