Ukraine government has no plans to privatize Ukrgasvydobuvannya – PM

Thursday, May 12, 2016 - 16:23 (EEST) Section: Latest news

Ukraine`s Prime Minister Volodymyr Groysman says the Ukrainian government has no plans to privatize the country`s largest gas producing state holding company Ukrgasvydobuvannya and leaves the company`s state ownership intact.
”Ukrgasvydobuvannya is a state-owned company. It should be an efficient company and owned by the state. The privatization of this company is in no way possible. There are no and will be no such plans [regarding privatization],” the prime minister told journalists commenting on statements of some politicians about possible privatization of the country`s major gas producing asset.
At this, Groysman said he would not allow the disruption of the company`s governance system, including by applying pressure on the company and carrying out searches of its offices.
”If law enforcement bodies have any questions, they can ask them and clarify everything. However, I do not see any reasons to remove the current management of the company,” Groysman said.
UNIAN memo. Ukrgazvydobuvannya is the largest state-owned producer, a subsidiary of state energy firm Naftogaz, having four production divisions: Poltavagasvydobuvannya, Shebelynkagasvydobuvannya, Kharkivgasvydobuvannya,  and Lvivgasvydobuvannya.
In January-March of 2016, the company increased natural gas production by 24.3 million cubic meters, or 0.7% year-over-year, to 3.687 billion cubic meters. Last month, Ukrgasvydobuvannya launched production of petrol meeting Euro-4 emission standard based on manufacturing facilities of Shebelynka gas processing plant.
At the same time, company`s chief Oleh Prokhorenko has repeatedly stated that pressure has been exerted on the company, in particular, by some MPs, which, in his opinion, is due to active changes in the company aimed at eliminating corruption and shadow schemes. Additionally, pressure on the company is exerted by the SBU Security Service, the Prosecutor General`s Office, and other law enforcement officers who have been carrying out searches of the company`s office. Prokhorenko informed about the searches at a government meeting and noted that the management of Ukrgasvydobuvannya has ”nothing to fear.”