Government approves Gas of Ukraine restructuring

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Ukrinform
The Cabinet of Ministers has approved a resolution on restructuring Gas of Ukraine, a subsidiary company of NJSC Naftogaz of Ukraine.

Ukrainian Vice Prime Minister, Minister for Economic Development and Trade Stepan Kubiv stated this at a government meeting, an Ukrinform correspondent reports.

“On May 12, Naftogaz decided to reorganize its subsidiary Gas of Ukraine via its merging to the company. The project envisages that these proposals should be agreed. The Gas of Ukraine’s merging with Naftogaz of Ukraine will ensure the settling of mutual debit and credit debts, the acquisition of fixed and circulating assets, which will increase the company's assets," Kubiv said.

According to government’s assessments, the debts of Gas of Ukraine total UAH 15 billion, of which UAH 11 billion has no sources of repayment.

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