The Cabinet of Ministers is ready to sign a new contract with the incumbent CEO of Naftogaz  for a period of one year, without bonuses, with a reduction in wages and clear tasks aimed to establish a separate operator of the Ukrainian GTS certified by European legislation by January 1, 2020, to increase gas production to specified parameters of not less than 18 billion cubic meters per year, to provide gas transit through the territory of Ukraine after January 1, 2020. Prime Minister of Ukraine Volodymyr Groysman announced this, opening the Government's meeting.

The PM said that the term of contract is one year, and failure to fulfill the tasks encapsulated in the new contract will be the reason to terminate the contract.

"We clearly set a number of tasks. The first task- we must eventually deliver a real reform of Naftogaz  which will allow to establish a separate GTS operator certified in accordance with EU principles and legislation. The second one is increase in gas production. Unfortunately, over the past 5 years, management has not taken the necessary measures to achieve these goals. We have commissioned the Supervisory Board with a task to ensure the functioning of the GTS and the continuation of transit, to achieve the goals of extraction of 18 billion cubes each year. The third - task we will not pay the sky-high salary", Volodymyr Groysman said.

The Head of Government informed that on Friday, March 15, he had held talks with the Supervisory Board and heard sound thoughts that all tasks defined by the Government should be enshrined the contract.

"The Naftogaz Supervisory Board agreed with these proposals, and suggested that the salary of the Naftogaz CEO will amount to 50% of his salary provided by the current contract and no bonuses will be served," the Prime Minister said.

Volodymyr Groysman placed a special emphasis on the fact that the management of Naftogaz under the new contract will report on the achievement of the goals on a monthly and quarterly basis. "If the goals are not achieved, this will be the basis for the tearing up the contract.  Thus, the Supervisory Board  will be accountable for the achievement of the goals encapsulated in the Government decision and in the contract. I call on the state representatives  on the Supervisory Board to monitor the implementation of the decision", the Head of Government claimed.