Government decides to set up Trunk Gas Pipelines of Ukraine firm by Sept 2016

17:42, 12.08.2016 1 min read

The Cabinet of Ministers has decided to create PJSC Trunk Gas Pipelines of Ukraine within the management of the Energy and Coal Industry Ministry of Ukraine by September 1, 2016.

The relevant provision is contained in the plan of restructuring Naftogaz Ukrainy, approved by cabinet resolution No. 496 dated July 1, 2016.

Under the resolution, a proper management structure, a list of assets necessary for the effective work of the enterprise, developed with the assistance of experts from the Energy Community, must be implemented at the new company by October 1, 2016.

According to the document, the property used by Ukrtransgaz for gas transportation must be transferred to the Trunk Gas Pipelines of Ukraine within 30 days from the date of entry into force of the final decision of the Stockholm arbitration in the dispute between Naftogaz and Russia's Gazprom.