Archive for the ‘Naftogaz reform’ Category
Yanukovych signs law on Naftogaz reform
Ukrainian President Viktor Yanukovych signed a law on pipeline transport regarding the reform of the oil and gas industry, which allows the Cabinet of Ministers to reorganize the national JSC Naftogaz of Ukraine.
At the same time, the privatization of Naftogaz and companies that will be created as a result of its reorganization has been banned. As reported, the Verkhovna Rada introduced amendments to Article 7 of the law on pipeline transport, banning the privatization of state enterprises and subsidiaries of Naftogaz that are engaged in transportation through trunk or distribution pipelines, storage in underground storage facilities, as well as Naftogaz itself. The Verkhovna Rada decided that the reorganization of these enterprises would be conducted in line with a decision of the Cabinet of Ministers. Naftogaz reform is being conducted in connection with Ukraine’s accession to the Energy Community and the need to bring Ukrainian legislation into line with EU energy legislation.