15:00 01.06.2022

Court seizes liquefied gas sold by Ukrnafta on unlicensed exchange at reduced price – SBI

2 min read
Court seizes liquefied gas sold by Ukrnafta on unlicensed exchange at reduced price – SBI

Liquefied gas sold by PJSC Ukrnafta in April-May 2022 on an unlicensed exchange, the damage from which is estimated at UAH 300 million, was seized by a court, the State Bureau of Investigations (SBI) has reported.

"SBI employees are investigating criminal proceedings regarding the illegal sale of liquefied gas by PJSC Ukrnafta in April-May 2022. As part of the proceedings.., the SBI seized the said liquefied gas," the Bureau reported on its website on Wednesday.

Proceedings are opened on the grounds of a criminal offense under Part 2 of Article 364 of the Criminal Code of Ukraine: is a willful use of authority or official position contrary to the official interests by an official for mercenary motives or other personal benefit that caused any grave consequences.

The SBI said that prosecutors of the Prosecutor General's Office (PGO) lead the proceedings.

As explained in the SBI, at a meeting of the auction committee in April, the exchange, proposed by Ukrnafta, which did not have a license to conduct professional activities in organized commodity markets, was approved. Moreover, the results of the auction have signs of being fraudulent, since the winners bought liquefied gas at a price almost two times lower than the market price.

Two participants, who offered the price of gas for about UAH 28,000 per tonne, were recognized as the winners of the auction, although on the same day at another auction the same companies were able to buy liquefied gas twice as expensive – for almost UAH 55,000 per tonne. The other participants in the auction did not provide any bids at all.

"Thus, the amount of damage caused to Ukrnafta, in which the state holds a substantial share, can amount to more than UAH 300 million," the SBI said.

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