PJSC Trunk Gas Pipelines of Ukraine made the first payment to JSC Ukrtransgaz in the amount of UAH 3.85 billion for corporate rights in the authorized capital of Gas Transmission System Operator of Ukraine LLC (GTSOU), the press service of Ukrtransgaz reported.
The company clarified that the payment was made as part of the fulfillment of contractual obligations assumed by the parties as part of the process of separating natural gas transportation from Naftogaz (unbundling).
The financial report of Naftogaz noted that the sale and purchase agreement for a stake in GTSOU provides for the group to receive an initial financial contribution of UAH 3.871 billion and regular variable payments over 15 years based on a dynamic price calculated according to a formula agreed by the parties. Accounts receivable were recognized at the date of sale of GTSOU according to the value of UAH 81.306 billion. In addition, on January 1, 2020, Ukrtransgaz sold its own gas to GTSOU, which is necessary for the operation of the system, for UAH 4.53 billion.
In January-September 2020, GTSOU received a net profit of UAH 20.277 billion, net income – UAH 44.827 billion.
