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Cabinet approves new composition of Naftogaz Supervisory Board

Source : 112 Ukraine

The board consists of six new members, including citizens of the United States, France, Canada and the United Kingdom
14:15, 22 November 2017

Groysman Twitter

The Cabinet of Ministers of Ukraine during the meeting on Wednesday, November 22, approved a new composition of the Supervisory Board for Naftogaz, 112.ua reports.

There are six new members - citizens of the United States, France, Canada and the UK, as well as the head of UkrSibbank, Oleksandr Hrytsenko and adviser to Ukraine’s Prime Minister - Serhiy Popik.

The previous independent members of the Supervisory Board, Paul Warwick and Marcus Richards, resigned from Naftogaz in September. They explained their decision is due to the shunting of reforms by the government. Earlier, a Naftogaz Supervisory Board member and independent director Charles Proctor resigned.

After that, Groysman has declared, that the structure will be renewed.

Related: Omitting "Naftogaz:" Why is it profitable for foreigners to sell gas in Ukraine?

As it was reported earlier Naftogaz declares that it began an internal investigation to verify information about Serhiy Oleksienko, a member of the board of PJSC Ukrtransgaz, and about his offshore company, that appeared in the media. 

"Naftogaz Ukraine compliance service began checking the information that appeared in the media about opening of the company and possible operations in foreign jurisdictions by Ukrtransgaz board member Serhiy Oleksienko, the former chief adviser to the chairman of the Naftogaz board. The company will make results of the check public after its completion," the statement said.

Earlier it was reported that Ukraine’s gas top manager Serhiy Oleksienko, whose name appeared in the Paradise Papers, owned an offshore company, which he used to draw the currency abroad – in the breach of the exchange restrictions. Hromadske web portal reported this, referring to the Paradise Papers.

Related: Naftogaz claims to not hold monopoly position at gas market in Ukraine

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