14:35 20.09.2017

PM warns Naftogaz of abuse of monopoly, announces public renewal of supervisory board

PM warns Naftogaz of abuse of monopoly, announces public renewal of supervisory board

National joint-stock company Naftogaz Ukrainy should be de-monopolized, and before this is done the company should not attempt to influence prices, Ukrainian Prime Minister Volodymyr Groysman has said, opening a government meeting in Kyiv on Wednesday.

"The monopolies always try to use their position to groundlessly increase price and increase expenses. I would not allow that any monopoly groundlessly even approached the revision of gas prices in our country," he said.

On September 19, NJSC Naftogaz Ukrainy said that all independent members of the supervisory board of national joint-stock company Naftogaz Ukrainy want to resign over political interference. Naftogaz recalled that independent members of its supervisory board in April said that the government did not implement the plan on corporate governance reforming.

Groysman called on Naftogaz to continue reform and conduct the unbundling, dividing gas transportation and storage, production and sale.

"I guarantee that the reforms on the oil and gas market should be accelerated so that Naftogaz becomes a modern high-quality company with property corporate governance principles introduced, not the only monopolist in the country," he said.

"We will renew the supervisory board. We will make it with our international partners in public to attract the best experts to the supervisory board to continue this extremely important, serious and systemic reform," he said.

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