17:49 31.07.2018

PWC to prepare assets not involved in gas transit for transfer from Ukrtransgaz to Trunk Gas Pipelines

2 min read
PWC to prepare assets not involved in gas transit for transfer from Ukrtransgaz to Trunk Gas Pipelines

PricewaterhouseCoopers (PWC), which national joint-stock company Naftogaz Ukrainy attracted to speed up the unbundling of the gas transport system (GTS) operator, should identify and prepare the assets not involved in gas transit for the transfer from PJSC Ukrtransgaz to PJSC Trunk Gas Pipelines of Ukraine, the press service of Naftogaz has reported.

"At the same time, the following criteria must be observed: the transfer of these assets does not threaten the transit of natural gas or any obligations under a transit contract with PJSC Gazprom, this transfer of assets complies with all regulatory and legislative standards, the unbundling will not subsequently create risks for financial sustainability of both operators," Naftogaz said.

In addition, according to the press service, PWC will develop a plan for optimization and transfer of assets, functions from Ukrtransgaz to the branch of the company - Operator of the Gas Transmission System (OGTS). A plan will also be prepared to transform the OGTS branch into a separate legal entity within NJSC Naftogaz Ukrainy. Under cooperation with PWC, it is also planned to implement a pilot project to optimize and transfer individual functions to the OGTS branch.

"Based on the results of the project, Naftogaz Ukrainy will begin the process of further optimization of Ukrtransgaz and preparation for the unbundling of the operator of the gas transportation system after 2019," the company said.

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