Economy

Tymoshenko announces intention to liquidate Naftogaz Ukrainy after presidential elections

Leader of the Batkivschyna party Yulia Tymoshenko declares her intention to liquidate the NJSC Naftogaz Ukrainy after the presidential elections.

"These corrupt authorities have six months to rule. The first thing that we will do in half a year is liquidation of NJSC Naftogaz as an intermediary, which is not needed. What is more, if Naftogaz establishes other intermediary structures, and it now plans to do this for sale of natural gas to Ukrainians ... All this will be eliminated," Tymoshenko said at a press conference in Kyiv on Friday.

The next presidential election is scheduled for March 2019.

The Batkivschyna leader also criticized Naftogaz's initiative to sell a 49% stake in Ukraine's gas transport system.

"To build such a gas transport system, you need to spend $300 billion. This amount is in today's prices, taking into account the gas storage facilities. [...] They are going to take virtually half of the property of the gas transport system at one-twentieth of the price. They're valuing it at around $7 billion," Tymoshenko said, calling this idea "the scheme of the century."

If the 49% stake in the gas transport system is sold, this decision will be reversed after the presidential election, she said.

Tymoshenko also said she believes that the claims that Ukraine's gas transport system will be left without the necessary transport volumes is a lie. She believes such a situation can be prevented by rapidly increasing the extraction of Ukrainian gas.

"The first thing we will do is launch the rapid extraction of natural gas after the presidential election, fully provide ourselves with our own, Ukrainian natural gas, and we will partially fill our gas transport system and export gas to the EU," she said.

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