15:20 17.10.2017

EBRD proposes list of candidates to Naftogaz's supervisory board to govt

EBRD proposes list of candidates to Naftogaz's supervisory board to govt

The European Bank for Reconstruction and Development (EBRD) has provided the Ukrainian government with a list of new independent candidates for the supervisory board of national joint-stock company Naftogaz Ukrainy, Voice of America has reported, referring to EBRD President Suma Chakrabarti.

"We have provided the government with a list of possible candidates, those who, in our opinion, are interested and will be able to form a new council as soon as possible. We are now waiting for the government's response," he said.

According to Chakrabarti, the resignation of independent board members could be due to disappointment with the decision-making process of lack of transparency in commercial discipline, which may create unequal conditions for Naftogaz's partners.

As reported, on October 5, 2017, independent members of the supervisory board of Naftogaz Ukrainy Paul Warwick and Marcus Richards officially finished working in the company.

Naftogaz Ukrainy unites oil and gas production assets in Ukraine, and is the country's gas transit, underground gas storage, and oil pipeline transportation monopoly.

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