Naftogaz CEO on the best guarantees for prolonging gas transit

 through Ukraine. According to Yuriy Vitrenko, “The best guarantee contracts with European companies.” He said that that negotiations on this issue organized by Germany will be held soon. He explained that Ukraine is not against the extension of the current contract with Russia for the transit of gas through Ukraine for another ten years, but this would not be the best guarantee for it.

Naftogaz CEO considers transit as a key source of funding for the transformation of the energy sector.

“Ukraine receives quite a lot of revenue from gas transit. We have a contract until 2024 that provides Ukraine with guaranteed income of $7.2 billion. If transit is prolonged, for example, for another 10 years after 2024, this can guarantee Ukraine an additional $20 billion. This is a significant source of financing for Ukraine’s “green transition,” Vitrenko said.

“US diplomatic signals go unheard in Ukraine,

” headlines an Atlantic Council blog by Oleksiy Honcharuk, President Zelensky’s first Prime Minister. Alarmed over the government’s bypassing of the Naftogaz Supervisory Board to switch CEOs, US Secretary of State Antony Blinken cut his face-to-face meeting with Zelensky on May 5, from one hour to 15 minutes. “This strong signal was backed by equally firm rhetoric identifying domestic corruption alongside Russian aggression as the two key dangers facing today’s Ukraine,” Honcharuk wrote from Washington. “Ukraine’s actions following the Blinken

Former Naftogaz Chief Andriy Kobolev denies accusations of allegedly creating a hole in the 2021 state budget estimated at UAH 10 billion

. “We understand that they were counting on our money – for 10 billion UAH. Our plan was to replace dividends with one or another payment (the technology can be discussed – from government bonds to” advancing dividends “) in the amount of 32 billion UAH. The plan, which I communicated the Prime Minister and the President, they know about it,” he said in an interview with Interfax-Ukraine.

The board ex-head stressed that on the date of his dismissal, the company had more than $2 billion of free funds on its account, and 7 billion cubic meters of natural gas owned by Naftogaz in underground storage facilities.

 “Thus, with the financial plan, which, unfortunately, was not approved for us for this year, we were going to ensure the safety of the next winter, ensure all investments in production and transfer, in addition to all standard tax payments, another UAH 32 billion,” he added.

“I do not think that the decision of the Cabinet of Ministers was legitimate,” Kobolyev told Interfax Ukraine.

“I believe that this decision puts an end to corporate reform. It is important not only for Naftogaz or for me personally, it is important for the entire corporate governance system that has been built over the past seven years.” In a Facebook post, Kobolyev said he left his office keys for Vitrenko to avoid “a circus” but intimated that he plans to appeal his dismissal.