15:31 21.09.2021

Naftogaz CVO Waterlander fears wasting of company's financial resources on noncore areas

1 min read
Naftogaz CVO Waterlander fears wasting of company's financial resources on noncore areas

Chief Visionary Officer (CVO) of NJSC Naftogaz Ukrainy Otto Waterlander fears wasting of the company's financial resources on noncore areas instead of increased focus on the development of gas production and sales.

"I am worried that if we start investing in some other types of activities. We will fall below the financial capabilities of the company or move more slowly with the expected investments in gas production," he said in an interview with the Economic Pravda (Ekonomicheskaya Pravda) ezine.

Waterlander believes that after the change of the board chairman this spring, the company began to take on many of the problems of the energy sector.

"It looks like Naftogaz is a department of the Ministry of Energy. In the past four to five months, what you are talking about has been traced. For example, I learned from the media that the company is considering the possibility of purchasing coal for Centrenergo," the CVO said.

He said that despite the fact that Naftogaz Head Yuriy Vitrenko confirmed the group's business strategy until 2025, "but he wants to do other things that do not correspond to our strategy, he would like to organize the companies in a different way."

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