Ukraine's Cabinet of Ministers has obliged national joint-stock company Naftogaz Ukrainy to supply gas to public joint-stock company Odesa Port-Side Chemical Plant in the amount of up to 300 million cubic meters (mcm) by December 31, 2016. This will help to launch the plant from October 1.

The resolution was approved at the meeting on Thursday.

Head of the State Property Fund (SPF) Ihor Bilous said that Naftogaz is to supply gas to the plant stably, irrespective of the existing debt, at the standard prices for this category of companies.

The payment of the debt will be included in the conditions of the plant's privatization.

As reported, in August 2016 the Ukrainian government addressed to the Secretariat of the Energy Community to analyze possible special liabilities of Naftogaz Ukrainy on supply of up to 300 million cubic meters of gas to Odesa Port-Side Chemical Plant if they meet European legislation. The Secretariat came to the conclusion that the amendments can be considered meeting 2009/73/EC Directive if the liability is imposed on the concrete period of time – only by late 2016. The Secretariat also demanded to include the provisions obliging the plant to pay for natural gas.

The launch of the plant should positively influence investors before the repeated tender to sell 99.567% of shares in the plant.