Government approves plan to divide Naftogaz Ukrainy

Ukraine's Cabinet of Ministers has approved a plan to restructure national joint-stock company Naftogaz Ukrainy with separation of gas transportation and gas storage operations.

An Interfax-Ukraine correspondent has reported that the decision was made at a government meeting in Kyiv on Friday.

According to the amendments made to the resolution under a proposal of the Economic Development and Trade Ministry, Naftogaz Ukrainy will select candidates to the supervisory board who are involved in transportation and are not involved in gas production and gas supplies.

The Naftogaz Ukrainy division plan was approved to execute the Third Energy Package of the European Union (EU) and the law on the natural gas market.