Poroshenko signs bill to reform Ukrainian gas transportation system's management

Ukrainian President Petro Poroshenko has signed a bill "On the Adjustment of Certain Ukrainian Laws in the Reform of Management of the Ukrainian Integrated Gas Transportation System".

Ukrainian President Petro Poroshenko has signed a bill "On the Adjustment of Certain Ukrainian Laws in the Reform of Management of the Ukrainian Integrated Gas Transportation System".

The document signed by the president was sent to the Verkhovna Rada on September 8, the parliament's website said.

The law reaffirms state ownership of the gas transportation system and underground gas storage facilities but says, from now on, they may be managed by special purpose entities. The Ukrainian government will have a controlling stake in the managing companies, and the rest of the stock may be acquired by European and U.S. companies.

The government intends to set up two companies servicing the gas transportation system and underground gas storage facilities with the participation of U.S. and European partners. The document lifts the restrictions on the lease or concession of gas trunk pipelines and underground gas storage facilities to a company or companies for a fee, without the right of their alienation, for acting as operators of the gas transportation system and/or underground gas storage facilities.

All rights reserved by Rossiyskaya Gazeta.

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