Naftogaz to Be Split in Three to Comply with EU Laws, Says Ukraine’s PM

Ukraine’s Naftogaz will soon be restructured, splitting into three separate companies. This move would allow the company to comply with EU’s Third Energy package and boost profitability in order to meet its financial obligations on time.  

“I suggest the following solution – NJSC Naftogaz Ukrainy will focus exclusively on natural gas sales. We establish PJSC Ukrainian Gas Transportation System, which, according to European legislation, will deal exclusively with the transportation of natural gas, as well as PJSC Ukrainian Gas Storages Facilities, which will deal with the storage of natural gas,” Prime Minister of Ukraine Arseniy Yatsenyuk said during the meeting of the Cabinet of Ministers of Ukraine. 

Ukraine is a member of the Energy Community. The government voiced its intention to step up efforts to align with European standards.  

“This significantly changes the whole system of energy security and energy policy in Europe. The faster we develop the more confident Ukraine and Europe will feel themselves in energy security issues,” reads a note released by the Ukrainian government on Wednesday.