The European commission will propose and adopt a number of market reforms this spring and autumn which will signal how it expects gas markets to evolve in the future. [Gas in Transition, Volume 1, Issue 2]
Naftogaz fiasco risks undermining Ukraine UkraineAlert by Alan Riley and Suriya Jayanti
The Ukrainian government has sparked controversy by suspending the Naftogaz Supervisory Board in order to dismiss CEO Andriy Kobolyev. (REUTERS/Valentyn Ogirenko)
The sacking of Andriy Kobolyev as Naftogaz CEO on April 28 is not just another Kyiv squabble. In order to remove Kobolyev, Prime Minister Shmyhal suspended the Naftogaz Supervisory Board for two days. By doing so, he rode roughshod over Naftogaz’s corporate governance system and the commitments Kyiv had entered into with the international community.
The consequences of this decision are far worse than just a grievous breach of corporate governance rules. By his actions, Ukraine’s Prime Minister has set off a train of events that are likely to severely damage Naftogaz. These developments could undermine Naftogaz’s status as the country’s largest taxpayer, while also threatening Ukraine with
The April 28 dismissal of Naftogaz CEO Andriy Kobolyev has sparked concerns over the future of corporate governance reforms at Ukaine s state-owned enterprises. (REUTERS/Valentyn Ogirenko)
As Ukrainians prepared to enter an extended Orthodox Easter and May Day holiday period, the cabinet of ministers on April 28 announced the dismissal of Naftogaz CEO Andriy Kobolyev and the company’s entire supervisory board. The move came as a shock to many, with European officials commenting that it would set a dangerous precedent for other Ukrainian state-owned enterprises (SOEs).
Prior to his dismissal, Kobolyev had been at the head of Ukraine’s flagship state-owned oil and gas company since 2014. He had previously survived repeated attempts to engineer his removal by successive governments and political opponents.
European Gas Dialogues 2021
European Gas Dialogues 2021
The European Gas Dialogues conference is designed to bring together the spectrum of stakeholders in the European natural gas community for the exchange and sharing of insight and viewpoints on how we can collectively move forward the position of the industry in local, national and global communities.
The event took place online between March 3
rd and March 11
Available
Supply competition in Europe’s gas markets
Europe’s domestic production is declining rapidly which means import dependency is rising. A number of suppliers are well positioned to take advantage of this; Russia, Qatar, US, Norway. New import infrastructure and the gasification of Eastern Europe opens up new markets and increases competition. Who will supply Europe with gas in the short and medium term and will Gazprom’s dominant position be challenged?