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Ukraine finalises unbundling of its gas transmission system operator

Published by , Editorial Assistant
World Pipelines,

Executives of PJSC ‘Ukrtransgaz’ and JSC ‘Magistralnye gazoprovodi Ukrainy’ (MGU) have signed the acceptance-delivery certificate after which the LLC ‘Gas Transmission System Operator of Ukraine’ (GTSOU) was officially transferred to the MGU, an entity owned by the Ministry of Finance. In addition, GTSOU has received assets of the Ukrainian gas transmission system from by a separate certificate.

The acceptance-delivery certificate contains over 47 thousand items with a book value of over 32 billion UAH. The move was pre-agreed by all parties involved in the unbundling process, including Naftogaz, the State Property Fund, the Ministry for Development of Economy, Trade and Agriculture, the Ministry of Finance, the Ministry of Energy and Environmental Protection.

This was the final stage of the process of separating the gas transmission system of Ukraine from Naftogaz. An unbundling of the GTS was completed as scheduled. The new independent TSO started fully independent operations on 1 January 2020.

“This was the most significant reform in the energy sector in the history of independent Ukraine. Our country has complied with the requirements of the Third Energy Package and has demonstrated that it is a responsible and reliable partner for the EU. Naftogaz has ceased to be a shareholder in the GTS operator. We will be its major client and are ready to continue joint support of initiatives aimed at developing a competitive and transparent gas market,” said Andriy Kobolyev, Chairman of the Board of Naftogaz, commenting on the completion of the unbundling process.

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