Naftogaz CEO Oleksiy Chernyshov participates in Forbes Ukraine conference

The Energy of Business Conference, organized by Forbes Ukraine in collaboration with Naftogaz of Ukraine and a number of international partners, has been held in Kyiv.

"This will be the first winter for Ukraine when we will be able to rely exclusively on domestically produced gas, without the need for state budget funds for imported fuel procurement," Naftogaz CEO Oleksiy Chernyshov told participants.

He also highlighted ongoing preparations for the upcoming heating season.

Naftogaz has successfully filled its underground gas storage (UGS) facilities ahead of schedule. Reserves in Ukraine’s UGS facilities have now surpassed 15.1 billion cubic meters of gas.

To reform the sector, we require a free energy market, which will bolster competition and, consequently, enhance energy efficiency and our energy independence," the Naftogaz Group CEO added.

These and other steps, such as the creation of independent supervisory boards, will stimulate faster and more effective reforms in the sector, according to Chernyshov.

"In the challenging year of 2022, Naftogaz paid more than UAH 90 billion in taxes to the Ukrainian budget, which amounted to 13% of state budget revenues. We are one of the largest taxpayers in the country and we plan to increase this figure," he concluded.

Background: Ahead of schedule, Naftogaz Group has met the gas storage goals set out in the Ukrainian Cabinet of Ministers plan to ensure ample gas volumes in UGS facilities.

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