Business news from Ukraine

NAFTOGAZ HAS FUNDS TO BUY AND INJECT GAS INTO STORAGE

NJSC Naftogaz Ukrainy has funds for the purchase and subsequent injection of natural gas into underground gas storage facilities (UGS), Ukrainian Energy Minister Herman Haluschenko has said.
“Naftogaz has been provided with the appropriate financial resources to continue accumulating gas further,” he said during a government meeting.
Earlier, the Ministry of Energy said that Ukraine plans to start the heating season 2021/2022 with 19.2 billion cubic meters in UGS.
According to the Interfax-Ukraine agency, Naftogaz will receive funds from Gas Transmission System Operator of Ukraine under the compensation agreement with Ukrtransgaz, recommended by the Cabinet of Ministers of Ukraine for signing in accordance with resolution No. 1187-r dated September 29, 2021.

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UKRAINE IMPOSES SANCTIONS AGAINST 19 SUBSOIL COMPANIES ASSOCIATED WITH FORMER ENERGY MINISTER STAVYTSKY

The National Security and Defense Council (NSDC) of Ukraine is imposing sanctions against 19 companies that are being held in the case of Golden Derrick, which is associated with former Energy Minister Eduard Stavytsky (later renamed as East Europe Petroleum) and the seizure of their permits for subsoil use since 2020, the Prosecutor General’s Office (PGO) has been unsuccessfully seeking in the courts.
“The maximum type of sanctions that can be applied by our country, imposed against these 19 companies by the National Security and Defense Council of our country,” NSDC Secretary Oleksiy Danilov said at a briefing on Friday after the meeting.
We are talking about Novo-Dykanska area (Geo Connect LLC), Popasniansko-Samarska (Adgein Macro LLC), Pivnichno-Pereschepynska (Global Geo Invest LLC), Vilshanska (Trans Set Geo LLC), Pivdenno-Svystunkovska (Eco Gas Alliance LLC), Pivdenno-Zinkivska (Epival Energy LLC), Birkovsko-Yukhnovska (Geo Post LLC), Flerovsko-Yuvileina (Yunolit Oil LLC), Runovschynska (Profi Naft LLC), Boyarsko-Chapaivska (Geo Target LLC), Druzhyninska (Nadra Pride LLC), Hulakivska (Best Geo Tech LLC), Zuivska (Geo Stance LLC), Butovsko-Myrhorodska (Nadra West Group LLC), Liutensko-Budyschanska (Geo Force Oil LLC), Pivnichno-Fedorivska (Best Oil Company LLC), Mayorovska (Nadraprostir LLC), Davydivsko-Leliukhovska (Geo Vertikal LLC) and Kliushnykivska (Info Geo Trend LLC).
Golden Derrick received these permits for exploration and production of oil and gas in 2012-2013 out of competition, since a third of its capital belonged to the state-owned NJSC Nadra Ukrainy.

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