Ukraine's Government to prolong contract with Naftogaz Board for one year

Source : 112 Ukraine

The Cabinet of Ministers will make this decision if the company implements three basic conditons
14:04, 20 March 2019

Volodymyr Groysman, Ukraine's PM

March 20, Ukraine’s Government to decide on the prolongation of the contract with Naftogaz board for a year, as the Prime Minister of Ukraine Volodymyr Groysman stated at the session of the Cabinet of Ministers, broadcasted by 112 Ukraine.

The board and the supervisory board of Naftogaz reached an agreement on contract’s extension foe a year. As the PM noted, the company should consider some conditions for a new contract.

“First of all, it has to provide separate gas transportation system and its certification in compliance with the European legislation, to continue gas transit since January 2020 and achieve gas amount no less than 18 billion cubic metres per year, not like today, no more than 15 billion cubic metres per year. Besides, we will not pay super high wages to the management of the company…,” the PM stated.

Related: Ukrainian PM: We did not get money from Naftogaz victory

He added that under the new conditions of the contract, salary for the management of the company will be half the current amount.

Earlier, Ukraine’s Government decided to announce a competition for the post of the Chairman of Naftogaz Board of Directors on March 23. 

As it was reported, Naftogaz CEO Andriy Kobolev urged the Government to liberalize gas supplies for all the consumers categories since April 2019, which will keep gas prices same in May. 

Related: Naftogaz, Finance Ministry to discuss gas prices with IMF

As it was reported, Naftogaz prolongs a two-million contract with Kobolyev.

In addition, Hague Tribunal made a positive decision in the case Naftogaz against Russia for lost assets as a result of Crimea’s annexation. 

Earlier, Naftogaz CEO Andriy Kobolyev said that the Government cannot reduce gas prices for Ukrainians despite all the campaign promises as its market price is one of the conditions of Ukraine’s cooperation with the International Monetary Fund. 

Related: Gas prices might not go up, - Naftogaz

Kobolyev explained that despite the promises of the presidential candidates, they cannot lower gas prices, the President does not have such power. It will not happen even after the parliamentary elections, according to Naftogaz CEO.

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