Cabinet of Ministers advocates complete demonopolization of the gas market and finalizing of the unbundling process of Naftogaz

The Cabinet of Ministers of Ukraine, in the framework of the implementation of the Energy Strategy of Ukraine for the period up to 2035 and the Strategy for Sustainable Development “Ukraine 2020”, stands for the full demonopolization of the gas market and finalizing of the unbundling process of the national energy holding Naftogaz of Ukraine. This was announced by Prime Minister of Ukraine Volodymyr Groysman during the Government sitting.

The Prime Minister underlined that demonopolization process  increases  competition in the market, hence this will reduce fuel prices and added that this is the core objective for the Government.

Moreover, the abovesaid process will require an increase in extraction, including by Naftogaz of Ukraine. In this context, the Head of Government proposed to update the composition of the Naftogaz Supervisory Board that could allow to completely launch the work of the energy holding, hence of the entire gas sector. The officials backed the proposal of the Prime Minister. The decision aimed to renew the Supervisory Board of NJSC Naftogaz of Ukraine was adopted unanimously.