“Naftogaz of Ukraine” is recognized as “supplier of last resort”

“Naftogaz of Ukraine” is recognized as “supplier of last resort”


“Supplier of last resort” should be guaranteed to secure gas supplies in case of bankruptcy, cancel or suspend the license of another supplier. “Naftogaz of Ukraine” will perform this function for three years.

KIEV, 14 Dec. National joint stock company “Naftogaz of Ukraine” is recognized as “supplier of last resort” for three years, the corresponding order of the Cabinet of Ministers of Ukraine published on the government website.

From 1 October in Ukraine the new law “On the natural gas market”, which introduced the concept of “provider of last resort”. The company is required to guarantee gas supplies in the event of bankruptcy, as well as cancel or suspend the license of another supplier.

“To determine the National joint stock company “Naftogaz of Ukraine” “supplier of last resort” for a period of three years as the winner of the competition”, — the document says.

Law free choice of natural gas suppliers equal access to transmission system and equal rights for the sale of natural gas and the implementation of foreign economic activity. Private providers along with the NJSC “Naftogaz of Ukraine” received the right to supply gas to Ukrainian enterprises.