June 2019, the Ukrainian Cabinet of Ministers (CMU) approved amendments to the comprehensive plan for restructuring the national joint-stock company Naftogaz, which is expected to accelerate its unbundling and to ensure certification of the natural gas transmission system operator (TSO) by 1 January 2020 when this Amended Plan comes into force.
The CMU adopted the original unbundling plan in Resolution No. 496 on 1 July 2016. Law-Now publication on the topic can be red here.
The Amended Plan was created to ensure Ukraine’s compliance with both the EU's Directive 2009/73/EC concerning common rules for the internal market in natural gas, and the Gas Market Law of Ukraine (No.329-VIII, 9 April 2015). The Ownership Unbundling Model contained in the plan can be seen in the chart below.
(*Naftogaz will manage corporate rights of the state in the public JSC Main Gas Pipelines of Ukraine (MGU) until 1 January 2020. **GTS will be transferred to the MGU's balance sheet on 1 January 2020.)
Within ten days, Naftogaz is required to submit to the CMU details for the Amended Plan's implementation. The following is an overview of the further actions and measures for implementation of the Amended Plan's unbundling process:
Legislation: Resolution of the Cabinet of Ministers of Ukraine No. 484 “On Amendments to the Resolution of the Cabinet of Ministers of Ukraine dated 1 July 2016 No. 496” dated 5 June 2019 .