Privatization of Naftogaz is impossible - director of Ukraine's State Property Fund

14:37, 03.10.2012 1 min read

Ukrainian State Property Fund Director Oleksandr Riabchenko has ruled out the possibility of privatization of Naftogaz of Ukraine.

"There were no talks about the privatization of Naftogaz. Structures like Naftogaz are not privatized in accordance with the regular procedures. They can be turned into joint-stock societies which can place a small portion of their shares on exchanges. However, it's a totally different thing. I don't think privatization in which a package of shares is sold at auction is possible," Riabchenko told reporters in Kyiv on Wednesday.

Riabchenko said the government has approved the bill amending the list of objects of the state property right not subject to privatization, but the document has not been submitted to the parliament yet.

Naftogaz of Ukraine comprises Ukraine's largest oil and gas extraction enterprises and holds a monopoly on the transit and storage of natural gas in underground storage facilities and the transportation of oil by pipeline transport on the territory of Ukraine.