Naftogaz head calls to complete arbitration with Gazprom, set up new operator of Ukraine's GTS to attract investors

17:39, 19.02.2016 1 min read

Naftogaz Ukrainy Board Chairman Andriy Kobolev has proposed the immediate setting up of a new legal entity owned by the State Property Fund to transfer the assets of Ukraine's gas transportation system (GTS) to this entity after the Stockholm arbitration against Gazprom is completed in late 2016-early 2017.

"This company, called, let's say, Trunk Gas Pipelines of Ukraine, will be the operator of the Ukrainian gas transportation system," he said at a meeting of the profile parliamentary committee in Kyiv.

Kobolev stressed it will be necessary to attract an investor in that clean, new company to preserve transit for Ukraine and disrupt the plans of Nord Stream 2, therefore it is needed to hurry up with its creation as inventory processes and other legal issues will take a lot of time.

The Naftogaz head said that Ukrtransgaz, currently acting as the GTS operator, will retain control over underground gas storage facilities. Although, he said, this matter could be debated as well, and they could be withdrawn as a separate company.