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Govt authorizes Gas of Ukraine to carry out actions with hydrocarbons if selected as part of PSA implementation

KYIV. May 3 (Interfax-Ukraine) – The Cabinet of Ministers of Ukraine has authorized the Gas of Ukraine company to carry out all actions with hydrocarbons in case they are taken as part of the implementation of production sharing agreements (PSA), according to order of the Cabinet of Ministers No. 332-r of April 29, 2022, published on the government portal.

"To determine Gas of Ukraine, the subsidiary company of National Joint Stock Company Naftogaz Ukrainy, authorized to carry out all actions with hydrocarbons in the case of selection of a share in profitable hydrocarbons in natural form belonging to the state of Ukraine as part of the implementation of concluded agreements on the distribution of hydrocarbons (hereinafter referred to as the authorized person)," the document states.

The term of office of the authorized person is set for the period of validity of the concluded PSA with the possibility of changing it by decision of the Cabinet of Ministers.

A subsidiary of Gas of Ukraine, NJSC Naftogaz Ukrainy, owns a 100% stake in the charter capital of Gas Supply Company Naftogaz Ukrainy LLC and Gas Supply Company Naftogaz Trading LLC.