On 9 November, the Cabinet of Ministers of Ukraine adopted Regulation #801 “On establishing Mahistralni Hazoprovody Ukrayiny (Main Gas Pipelines of Ukraine) Public Joint-Stock Company”.

The decision is a part of the restructuring plan developed for Naftogaz with the view to unbundle natural gas transportation and storage (injection and withdrawal) and approved by Resolution #496 of the Cabinet of Ministers of Ukraine dated 1 July 2016.

The government has also approved the Corporate Governance Plan for Main Gas Pipelines of Ukraine, which includes proposals suggested by the EBRD and the Energy Community.

“Naftogaz welcomes the government’s decision to create a new TSO. It is fully in line with the philosophy behind the reform of the Ukrainian gas market and European regulations. We plan to start transferring the assets to the new company after the decision of the Stockholm arbitration in spring next year,” Naftogaz CEO Andriy Kobolyev said.

With its Regulation #800, the government has also approved changes to Naftogaz restructuring plan, which include measures for unbundling natural gas transportation and storage (injection and withdrawal).