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'''Naftogaz''' (full name:'''National Joint-Stock Company Naftogaz of Ukraine'''; also: '''Naftogaz Ukrainy''', {{lang-uk|НАК "Нафтогаз України"}}, ''Naftohas Ukrayiny'', literally: ''Oilgas of Ukraine'') is the [[national oil company|national oil and gas company]] of Ukraine. It is the state-owned company<ref name=reuters>[http://www.reuters.com/article/newsOne/idUSL753544520090107?pageNumber=2&virtualBrandChannel=0 Ukraine sets gas offer but wants no middleman], [[Reuters]] (7-1-2009)</ref> under the [[Ministry of Fuel and Energy (Ukraine)|Ministry of Fuel and Energy]] of Ukraine. The company is concerned with extraction, transportation, and refinement of [[natural gas]] and [[crude oil]].<ref name="naftogas_statute">{{Cite Ukrainian law|type=Cabinet of Ministers order|number=747|law=747-98-%EF|name=On foundation of National joint-stock company "Naftogas of Ukraine"|date=1998-05-29}}</ref> The company is also active in [[Egypt]] and in the [[United Arab Emirates]].<ref name=UAE/><ref name=Egypt>[http://www.ukranews.com/eng/article/182528.html Naftohaz Ukrainy Starts Production Of Oil From Extension Well In Egypt], [[Ukrainian News Agency]] (February 24, 2009)</ref> The head office of the company is in [[Kiev]].<ref>"[http://www.naftogaz.com/www/2/nakweben.nsf/0/BE49F856DD55E4B9C225710F004570B2 Contacts]." Naftogaz of Ukraine. Retrieved on 12 September 2011. "Postal address: Khmelnytsky St. 6, Kyiv, Ukraine, 01001 " - [http://www.naftogaz.com/www/2/nakweb.nsf/0/027F799678162A90C22570DD00304EC4 Address in Ukrainian]: "вул. Б. Хмельницького 6, м. Київ, 01001, Україна" - [http://www.naftogaz.com/www/2/nakwebru.nsf/0/F24A59D98DD53F46C225710F003E16FB Address in Russian]: "ул. Б. Хмельницького 6, г. Киев, 01001, Украина"</ref>
'''Naftogaz''' (full name:'''National Joint-Stock Company Naftogaz of Ukraine'''; also: '''Naftogaz Ukrainy''', {{lang-uk|НАК "Нафтогаз України"}}, ''Naftohaz Ukrayiny'', literally: ''Oilgas of Ukraine'') is the [[national oil company|national oil and gas company]] of Ukraine. It is the state-owned company<ref name=reuters>[http://www.reuters.com/article/newsOne/idUSL753544520090107?pageNumber=2&virtualBrandChannel=0 Ukraine sets gas offer but wants no middleman], [[Reuters]] (7-1-2009)</ref> under the [[Ministry of Fuel and Energy (Ukraine)|Ministry of Fuel and Energy]] of Ukraine. The company is concerned with extraction, transportation, and refinement of [[natural gas]] and [[crude oil]].<ref name="naftogas_statute">{{Cite Ukrainian law|type=Cabinet of Ministers order|number=747|law=747-98-%EF|name=On foundation of National joint-stock company "Naftogas of Ukraine"|date=1998-05-29}}</ref> The company is also active in [[Egypt]] and in the [[United Arab Emirates]].<ref name=UAE/><ref name=Egypt>[http://www.ukranews.com/eng/article/182528.html Naftohaz Ukrainy Starts Production Of Oil From Extension Well In Egypt], [[Ukrainian News Agency]] (February 24, 2009)</ref> The head office of the company is in [[Kiev]].<ref>"[http://www.naftogaz.com/www/2/nakweben.nsf/0/BE49F856DD55E4B9C225710F004570B2 Contacts]." Naftogaz of Ukraine. Retrieved on 12 September 2011. "Postal address: Khmelnytsky St. 6, Kyiv, Ukraine, 01001 " - [http://www.naftogaz.com/www/2/nakweb.nsf/0/027F799678162A90C22570DD00304EC4 Address in Ukrainian]: "вул. Б. Хмельницького 6, м. Київ, 01001, Україна" - [http://www.naftogaz.com/www/2/nakwebru.nsf/0/F24A59D98DD53F46C225710F003E16FB Address in Russian]: "ул. Б. Хмельницького 6, г. Киев, 01001, Украина"</ref>


[[Ukraine]]'s system of trunk [[natural gas]] pipelines and underground natural gas depots is operated by Ukrtransgaz, a subsidiary of Naftogaz Ukrainy.<ref>[http://www.kyivpost.com/news/nation/detail/52859/ Natural gas transit through Ukraine down 24.8% year on year], [[Kyiv Post]] (November 16, 2009)</ref> Another subsidiary of Naftogaz Ukrainy, Gaz Ukrainy, is responsible for domestic gas distribution to local Ukrainian heat supply companies.<ref name=domestic>[http://www.kyivpost.com/news/nation/detail/50656/ Gaz Ukrainy demands urgent payment of debts of heat supply companies], [[Kyiv Post]] (October 14, 2009)</ref>
[[Ukraine]]'s system of trunk [[natural gas]] pipelines and underground natural gas depots is operated by Ukrtransgaz, a subsidiary of Naftogaz Ukrainy.<ref>[http://www.kyivpost.com/news/nation/detail/52859/ Natural gas transit through Ukraine down 24.8% year on year], [[Kyiv Post]] (November 16, 2009)</ref> Another subsidiary of Naftogaz Ukrainy, Gaz Ukrainy, is responsible for domestic gas distribution to local Ukrainian heat supply companies.<ref name=domestic>[http://www.kyivpost.com/news/nation/detail/50656/ Gaz Ukrainy demands urgent payment of debts of heat supply companies], [[Kyiv Post]] (October 14, 2009)</ref>

Revision as of 10:37, 19 August 2012

For similarly named companies, see Neftegaz (disambiguation).
Naftogaz Ukrainy
Naftogaz of Ukraine
Company typeNational joint-stock company
Industryenergy industry, pipeline transport
Headquarters
Kiev
,
Ukraine
Area served
Ukraine
Key people
Yevhen Bakulin (CEO)[1]
Productsgas, crude oil, condensate, petrol
Servicesgas and oil transportation and distribution
RevenueIncrease UAH 65.5 billion (2010)[2]
Decrease UAH -12.6 billion (2010)[2]
Decrease UAH -22.7 billion (2010)[2]
Total assetsIncrease UAH 194.1 billion (2010)[2]
Total equityIncrease UAH 80.8 billion (2010)[2]
OwnerMinistry of Fuel and Energy
Number of employees
172,000 (2008)
Websitewww.naftogaz.com

Naftogaz (full name:National Joint-Stock Company Naftogaz of Ukraine; also: Naftogaz Ukrainy, Template:Lang-uk, Naftohaz Ukrayiny, literally: Oilgas of Ukraine) is the national oil and gas company of Ukraine. It is the state-owned company[1] under the Ministry of Fuel and Energy of Ukraine. The company is concerned with extraction, transportation, and refinement of natural gas and crude oil.[3] The company is also active in Egypt and in the United Arab Emirates.[4][5] The head office of the company is in Kiev.[6]

Ukraine's system of trunk natural gas pipelines and underground natural gas depots is operated by Ukrtransgaz, a subsidiary of Naftogaz Ukrainy.[7] Another subsidiary of Naftogaz Ukrainy, Gaz Ukrainy, is responsible for domestic gas distribution to local Ukrainian heat supply companies.[8]

In September 2009 the Fitch Ratings of the company dropped from 'CC' to 'C'.[9] Late 2009 the company restructured of its foreign debt via the exchange of eurobonds and obligations on bilateral loans for single investment instruments.[10] Naftogaz transfers gas to Gazprom. [11]

Structure

Production and Refinery

  • Subsidiary Company Ukrgasproduction
  • Open Joint-Stock Company Ukrnafta (50% + 1)
  • Subsidiary Joint-Stock Company Chornomornaftogaz
  • Overseas branches

Transportation

  • Subsidiary Company Ukrtransgaz
  • Open Joint-Stock Company Ukrtransnafta
  • Subsidiary Joint-Stock Company Ukrspetstransgaz

Distribution

  • Subsidiary Company Gas of Ukraine
  • Subsidiary Ukravtogaz
  • Heat power generating companies
  • other enterprises

Disputes

International

See also: Russia–Ukraine gas disputes

In 2005 the company became embroiled in a dispute over the natural gas prices with Russian state company Gazprom, which was ended on 4 January 2006. In January 2009 the company was the center of a similar conflict.[1]

On October 24, 2008, Gazprom and Naftogas signed a long-term cooperation deal in which it was decided that Ukraine will receive Russian natural gas directly from Gazprom and Naftogas will be the sole importer of Russian natural gas.[12]

Deliveries of 90 million cubic meters of natural gas per day, designed for Naftogas were fully cut by Gazprom on 1 January 2009 at 10:00 MSK and were restored only on 13 January 2009 at 10:00 MSK after long-term agreements for gas transit and supply for 2009-2019 were signed.

On March 4, 2009 Officers of the Security Service of Ukraine (SBU) and the Alfa special police unit searched the company's headquarters in a case against officials of Naftogaz Ukrainy on embezzlement of 6.3 billion cubic meters of transit natural gas.[13] The same day the Shevchenkivskyi District Court of Kiev banned the Security Service to investigate this case.[14][15] The next day Bloc Yulia Tymoshenko deputies of the Ukrainian Parliament (Verkhovna Rada) prevented a second raid.[14][15][16] According to Valerii Khoroshkovskyi, the first deputy chairman of the Security Service of Ukraine, the RosUkrEnergo Company and a number of Verkhovna Rada’s deputies filed in a claim against Naftogaz Ukrainy.[17] Also on March 5, 2009 Prime Minister Yulia Tymoshenko awarded the chairman of the State Customs Service Anatoliy Makarenko, deputy chief of the Energy Regional Customs department Taras Shepitko, deputy chief accountant of Naftogaz Ukrainy NJSC Maria Kushnyr and director of the Judicial Department of Naftogaz Ukrainy NJSC Sergiy Davydenko with decoration and honorary documents of the government of Ukraine.[18] On March 17, 2009 a criminal case was filed against officials of the Naftogaz Ukrainy national joint-stock company on suspicion of stealing 6.3 billion cubic meters of natural gas intended for transit through Ukraine by the SBU.[19]

On March 30, 2010 an international arbitration court in Stockholm ordered Naftogaz Ukrainy to pay RosUkrEnergo around $200 million as a penalty for various breaches of supply, transit and storage contracts.[20] On June 8, 2010 the Stockholm Arbitration Tribunal ordered Naftogaz to return 11 bcm of natural gas to RosUkrEnergo and that RosUkrEnergo would receive from Naftogaz a further 1.1 bcm of natural gas in lieu of RosUkrEnergo's entitlement to penalties for breach of contract.[20][21] On August 16, 2009 Gazprom accused Naftogaz of lying stating that its leadership should not make out RosUkrEnergo and Gazprom one and the same entity.[22] The official letter was signed by the Deputy Chairman of the Board Valery Golubev who is also the Director of Operation for RosUkrEnergo.[23]

Domestic

The debt of municipal heat supplying companies to the company for gas consumed since the start of the 2009 heating season (from October 1, 2009) had exceeded 927 million Ukrainian hryvnia (UAH) with a 19% level of payment late November 2009, debts for gas consumed in the previous heating season exceeded UAH 2.3 billion with a 74% level of payment.[8][24]

Early December 2009 regional gas supplies companies complained the company did not have enough employees to work, and existing workers did not have experience of work in the natural gas sphere.[25] At the time there was a transfer of gas networks to the Naftogaz Ukrainy daughter company Naftogaz Merezhi.[26] Naftohaz immediately assured that it would meet all of its commitments to the consumers of natural gas and the workers of natural gas supply facilities.[26]

On December 10, 2009 President of Ukraine Victor Yushchenko stated: "NJSC Naftogaz Ukrainy is currently a company that does not formally exist, but it is in fact bankrupt" and that Prime Minister of Ukraine Yulia Tymoshenko was driving the company to bankruptcy so she could create a gas transportation consortium with Russia.[27]

International activities

The company drills for oil in the Western Desert in Egypt. On December 13, 2006, Naftogaz Ukrainy and the Egyptian General Petroleum Corporation had signed an agreement on the exploration and development of oil and gas deposits on the eastern territory of Alam El Shawish East in the Western Egyptian desert.[5] On March 29, 2009 the company started to drill its first prospecting gas well Hamad-1 on the territory of the emirate of Al Fujairah in the United Arab Emirates (UAE). The 2005 agreement with UAE investors was signed in 2005. The term of the agreement is 29 years, including the four years of prospecting.[4]

References

  1. ^ a b c Ukraine sets gas offer but wants no middleman, Reuters (7-1-2009)
  2. ^ a b c d e Public Joint Stock Company "National Joint Stock Company "Naftogas of Ukraine" (31 December 2009). "Consolidated Financial Statements" (PDF). naftogaz.com. Naftogaz of Ukraine. Retrieved 12 July 2011.
  3. ^ Laws of Ukraine. Cabinet of Ministers order No. 747: On foundation of National joint-stock company "Naftogas of Ukraine". Adopted on 1998-05-29. (Ukrainian)
  4. ^ a b Naftohaz Ukrainy Starts To Drill Gas Well In UAE, Ukrainian News Agency (March 30, 2009)
  5. ^ a b Naftohaz Ukrainy Starts Production Of Oil From Extension Well In Egypt, Ukrainian News Agency (February 24, 2009)
  6. ^ "Contacts." Naftogaz of Ukraine. Retrieved on 12 September 2011. "Postal address: Khmelnytsky St. 6, Kyiv, Ukraine, 01001 " - Address in Ukrainian: "вул. Б. Хмельницького 6, м. Київ, 01001, Україна" - Address in Russian: "ул. Б. Хмельницького 6, г. Киев, 01001, Украина"
  7. ^ Natural gas transit through Ukraine down 24.8% year on year, Kyiv Post (November 16, 2009)
  8. ^ a b Gaz Ukrainy demands urgent payment of debts of heat supply companies, Kyiv Post (October 14, 2009)
  9. ^ Fitch downgrades Naftogaz, Ukrinform (September 24, 2009)
  10. ^ Naftohaz Ukrainy completes restructure of eurobonds, Kyiv Post (November 5, 2009)
  11. ^ Ukrainian Naftogaz transfers to Gazprom more than $ 1 billion for imported in October gas RIAN, 05/11/2010
  12. ^ Gazprom, Naftogas sign long-term cooperation deal, UNIAN (24-10-2008)
  13. ^ SBU Officers Leave Building Of Naftohaz On Completing Investigating Actions, Ukrainian News Agency (March 4, 2009)
  14. ^ a b SBU Leave UkrTransHaz Building, Ukrainian News Agency (March 5, 2009)
  15. ^ a b SBU Trying Penetrate UkrTransHaz Building To Carry Out Investigation, Ukrainian News Agency (March 5, 2009)
  16. ^ SBU and BYUT lawmakers fought in Naftogaz (with pictures), UNIAN, (March 5, 2009)
  17. ^ Khoroshkovskyi Unveils Reasons Behind RosUkrEnergo’s And Verkhovna Rada Deputies’ Claims Against Misappropriating 6.3 Billion Cubic Meters Of Gas, Ukrainian News Agency, (March 5, 2009)
  18. ^ Tymoshenko awarded Makarenko and Shepitko, UNIAN, (March 5, 2009)
  19. ^ SBU Sends Criminal Case Against Naftohaz Ukrainy Officials Accused Of Stealing 6.3 Billion Cubic Meters Of Gas To Prosecutors, Ukrainian News Agency, (March 17, 2009)
  20. ^ a b Stockholm court obliges Naftogaz to return 12.1 billion cubic meters of gas to RosUkrEnergo, Kyiv Post (June 8, 2010)
  21. ^ BYuT publishes documents on sales of disputed 11 billion cubic meters of gas by Gazprom to Naftogaz, Kyiv Post (June 25, 2010)
  22. ^ Mirror Weekly (July 16, 2010) Template:Ru icon
  23. ^ Mirror Weekly (July 15, 2010) Template:Uk icon
  24. ^ Debt of heat suppliers to Gaz Ukrainy reaches almost Hr 1 billion, Kyiv Post (November 24, 2009)
  25. ^ Regional gas supplies companies say that Naftogaz Merezhi unable to service gas consumers, Kyiv Post (December 3, 2009)
  26. ^ a b Naftogaz vows to meet all commitments to consumers, Kyiv Post (December 3, 2009)
  27. ^ Yushchenko: Moscow backing Tymoshenko to create gas transportation consortium, Kyiv Post (December 10, 2009)

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