Govt approves new regulations of Naftogaz with transfer of shares to economy ministry

12:48, 07.12.2015 1 min read

The Cabinet of Ministers of Ukraine at a meeting on December 4, 2015 approved the new regulations of national joint-stock company Naftogaz Ukrainy, foreseeing the formation of the supervisory board, Ukrainian Prime Minister Arseniy Yatseniuk has said.

"Today the government decided to approve the new regulations of Naftogaz Ukrainy," he told reporters.

Under the government's decision the shares in Naftogaz are to be transferred from the Energy and Coal Industry Ministry to the Economic Development and Trade Ministry.

Vice President of the European Commission Maros Sefcovic wrote on his Twitter page that the approval of the NaftogazUkraine new governance paves the way for the EBRD gas loan disbursement.

The Ukrainian office of the European Bank for Reconstruction and Development (EBRD) told Interfax-Ukraine that the cabinet's decision will unblock the provision of $300 million to buy gas and EUR 150 million to modernize the Urengoy-Pomary-Yuzhgorod pipeline.