Mission of the European Commission performs technical audit of the system of underground gas storages that belong to NJSC "Naftogaz of Ukraine"

In pursuance of the terms and conditions of the trilateral Memorandum dated January 12, 2009, which was signed by and between the European Commission (EC), Ukraine, and the Russian Federation (RF), as well as in pursuance of the terms and conditions of the European Commission and International Financial Institutions that concern the possibility to obtain the relevant loan, on July 30, top managers of NJSC «Naftogaz of Ukraine» have held the work meeting with the representatives of the European Commission, who have arrived with the purpose of performing the audit of the Company's material balance report, as well as in order to become familiar with the technical figures, which characterise storage of natural gas in the underground gas storages (UGSs).

The EC representatives have informed the Ukrainian party that the relevant letter on the beginning of practical work of the Mission was already sent to the relevant competent bodies of the RF.

In accordance with the declarations of the EC representatives, the main goal of the Mission is to check the quality of the data, which were submitted by the Company to the European party, particularly, volumes of the natural gas in the Ukrainian UGSs, processes of pumping in and pumping out of the natural gas, as well as the level of work pressure within the Ukrainian gas pipeline network.

In accordance with the results of the work meeting, the European Commission's representatives have expressed their thanks to the managers of NJSC «Naftogaz of Ukraine» for the possibility to work as the Mission, and understated that they will promote further deepening of good relations with the European Commission. In addition, representatives of the Mission have agreed to provide managers of NJSC «Naftogaz of Ukraine» with information on the results of work of the experts in order to create possibilities for the joint discussion of these results, as well as for the objective dissemination of information on these results.

Upon completion of the work meeting with managers of NJSC «Naftogaz of Ukraine», the EC Mission has visited SC «Ukrtransgas» in order to receive further detailed technical documents concerning the above-listed problems.

Press Centre NJSC «Naftogaz of Ukraine»