Government has not prolonged Naftogaz duty to form gas reserve for households

14:35, 23.03.2016 1 min read

The Cabinet of Ministers of Ukraine has not yet prolonged the duty of national joint-stock company Naftogaz Ukrainy to form the gas reserve for households. The term for granting the duty expires on March 31, 2016.

Naftogaz Board Chairman Andriy Kobolev told reporters in Kyiv on Wednesday that if the cabinet does not issue the resolution, the holding would have to sell all its gas on the market at the market prices, including to households and heating supply companies.

"We would have only one option: to sell gas at the market price, as the term of the obligation to sell gas at the price that is lower than the market price is expiring," he said.

Kobolev said that delay by the cabinet in settling the issue creates threats to the gas market reform.

He said that the decision should be made before March 20. If the decision is made in the coming days, Naftogaz would have to urgently sign contracts with a large number of contractors.