Naftogaz Ukrainy faces financial crisis

Business Materials 3 January 2008 00:01 (UTC +04:00)

Naftogaz Ukrainy is now facing the financial crisis, Ukrainian Prime Minister Yulia Timoshenko told journalists on Wednesday.

After her meeting with Naftogaz Ukrainy new head Oleg Dubina, Timoshenko said he had studied the situation. Dubina said, "The company is be faced with bankruptcy and has no tested gas balance for this year."

At the first government session on January 9 Timoshenko intends to create a special commission and authorise it with special functions in order to revise the economic activity of the company. In her words, Naftogaz Ukrainy has no its own gas in gas storage facilities. "What has pumped there belongs to shady criminal structures," the prime minister said.

At the same time, Timoshenko pledged that Ukraine "will comply with all obligations on stable gas supplies to Europe and domestic consumers despite the financial crisis".