12:08 03.02.2020

Court approves Ukrnafta, Ukrtransgaz's amicable agreement declaring UAH 15 bln worth gas in UGS facilities belonged to Ukrnafta – Naftogaz official

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Court approves Ukrnafta, Ukrtransgaz's amicable agreement declaring UAH 15 bln worth gas in UGS facilities belonged to Ukrnafta – Naftogaz official

Kyiv's business court has approved an amicable agreement between JSC Ukrtransgaz and PJSC Ukrnafta declaring gas in underground gas storage (UGS) facilities worth almost UAH 15 billion as belonged to Ukrnafta, Executive Officer of NJSC Naftogaz Ukrainy Yuriy Vitrenko has said.

"Last week the amicable agreement between Ukrtransgaz and Ukrnafta on recognizing the above-mentioned volumes of gas [2 billion cubic meters] in UGS facilities of Ukrtransgaz as belonged to Ukrnafta was signed and approved by court," he wrote on his Facebook page on Monday.

According to Vitrenko, Naftogaz should receive almost UAH 15 billion of compensation from the national budget for public service obligations (PSO) imposed on it, which will be sent to Ukrnafta for 2 billion cubic meters of gas stored in UGS facilities. In addition, Naftogaz will make an advance payment of UAH 14.6 billion to Ukrnafta another for gas, which the company will produce and transfer in subsequent periods.

In turn, Ukrnafta will send all these funds to the national budget as repayment of the tax debt, and also pay taxes arising in connection with these operations.

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