Naftogaz CEO Oleksiy Chernyshov meets G7 ambassadors and EU Delegation in Ukraine

On December 1, Oleksiy Chernyshov, Chairman of the Board of Naftogaz of Ukraine, held a meeting with the ambassadors of the G7 countries and the head of the EU delegation to Ukraine. The meeting discussed the synchronization of Naftogaz and foreign partners regarding the current situation, support for Naftogaz activities, and the needs of the oil and gas sector of Ukraine, which arose in connection with the full-scale invasion of Russia on the territory of Ukraine.

“One of my primary objectives as Chairman of the Board of Naftogaz is to restore the trust of foreign partners and Eurobond holders in the company. On my first day in office, I sent an official request to the Cabinet of Ministers of Ukraine to resume the competition for the selection of members of Naftogaz’s Supervisory Board. Compliance with OECD standards is crucial to our group. We are working to ensure that the company receives a professional and transparent management,” Chernyshov commented.

The Naftogaz’s CEO also addressed Ukraine’s needs arising from Russia’s full-scale invasion.

Thus, according to Chernyshov, Russia has destroyed over 300 energy infrastructure facilities. On November 17, Russia targeted more than 10 gas production facilities.

According to preliminary estimates of the Ministry of Energy based on war-related risks, Ukraine needs up to an additional 3 bcm of gas for the winter heating season, which equals over $4 billion. Chernyshov noted that this company needs the help of foreign partners.

The parties also discussed Naftogaz’s strategy for partnerships with foreign governments and businesses. “Naftogaz is open to strengthening cooperation with our foreign partners – we offer the governments and businesses of the G7 countries cooperation on hydrocarbon production in Ukraine,” Chernyshov added.