Parliament adopted law on certification of the UGS Operator and prevention of bankruptcy of Chornomornaftogaz

At its meeting on December 13, the Parliament of Ukraine adopted in its second reading and as a whole draft law No. 8158 on amendments to some laws of Ukraine (regarding the certification of the gas storage operator and continuation of measures to prevent the bankruptcy of the Chornomornaftogaz State JSC). 261 People's Deputies voted "for" the relevant bill.

The draft law makes it possible to start the certification procedure of the gas storage operator (Ukrtransgaz JSC) in accordance with the norms and regulations of the EU countries. According to the head of Naftogaz Oleksiy Chernyshov, "in case of successful certification (I believe that it will be the same) Ukrtransgaz, and with it, Ukraine will for the first time have the opportunity to store not only commercial gas reserves of individual European companies in our country's underground storage facilities but also the strategic gas reserves of the EU member states."

One may remind, at the meeting on December 13, the NEURC also approved the Procedure for the certification procedure of the gas storage operator.

In addition, the adopted law creates conditions for the preservation of Chornomornaftogaz, whose property was illegally taken along with the annexation of Crimea in 2014, as a participant in international courts and will make it possible to prevent the blocking of the operation of the strategic enterprise by creditors and its bankruptcy.

"Such a decision preserves the possibility to receive compensation from the aggressor state for the damages and to settle the issue of repayment of debts through the receipt of income from the management of corporate rights," Chernyshov commented.