The Supervisory Board of “Naftogaz of Ukraine” will form in 2017


Moscow. December 8. The Supervisory Board of the NJSC “Naftogaz of Ukraine” should be formed by April 2017, according to the decree of the Cabinet of Ministers No. 1002 dated December 5, 2015, which approved the new statutes of the company and the regulations on the Supervisory Board and the management Board of the state holding.

The provisions come into force on 1 April 2017.

The membership of the Supervisory Board of “Naftogaz” will consist of five persons, approved by the Ministry of economic development and trade of Ukraine (MEDT) as a shareholder of the company. Three members of the Board must meet the independence criteria specified by law and the regulations on the Supervisory Board of the NJSC.

Another two representatives of the state from among the members of the Supervisory Board are appointed by the Ministry of economic development and trade, one of which is in agreement with the President of Ukraine, the second – with the Cabinet of Ministers of Ukraine.

Suggestions for nominations for the positions of members of the Supervisory Board of “Naftogaz of Ukraine” submitted by the MEDT Committee for the appointment of leaders is particularly important for the economy of enterprises established in accordance with the procedure of competitive selection of heads of subjects of managing of the public sector.

According to the document, no interference and obstruction of business activities of the company on the part of public authorities, political parties and public organizations.

Transfer of shares from the state holding the Ministry of coal industry Ministry must be made within 10 days from the date of entry into force of this Ordinance.

Naftogaz owes within a week to provide the state registration of the Charter, approved by the decree, and adopt by April 1, 2017 all necessary documents envisaged by the Charter.

“Naftogaz Ukraine” unites the largest oil and gas enterprises of the country. The holding is a monopolist on transit and storage of natural gas in underground storages, as well as on oil transportation by pipeline transport through the territory of the country.