“Naftogaz” is in danger of becoming bankrupt

Chief commercial Director of “Naftogaz of Ukraine” Yuriy Vitrenko permits the bankruptcy of the company in case of loss of “Gazprom” in the Stockholm arbitration.

“The state is not liable for the obligations of “Naftogaz”. “Naftogaz” will simply be bankrupt. Our assets during the liquidation of “Naftogaz” will sell, and lenders within a particular queue will receive the appropriate money,” he said.

Vitrenko also noted that the gas transportation system and special solutions for gas production are state property, so the assets in case of losing in arbitration will not depart “Gazprom”.

At the same time, he believes that the probability of losing the NAC arbitration low.

We will remind, Gazprom billed Naftogaz for the year 2016 for arrears contracted by the rule of “take or pay” gas in the amount of 5.3 billion dollars.

Earlier in Stockholm ended hearing the suit of “Naftogaz of Ukraine” with Russian Gazprom regarding the contract for the purchase of gas.

“Naftogaz” expects that the Stockholm arbitration court will make a decision in the dispute with “Gazprom” contract of purchase/sale of gas to the end of the 1st quarter of 2017 and the contract on conditions of transit of gas through Ukraine before the end of the 1st half of 2017.