President Petro Poroshenko has signed the law allowing letting Ukrainian gas transport system and underground gas storage facilities (USF) less the right to their further alienation, the page of respective draft law on the official website of the Verkhovna Rada reads.

According to the law, the letting of the Ukrainian gas transport system may be conducted only taking in account principles of observation of economic security of the state.

The document reads that the functions of gas transport system operator are fulfilled by an economic entity, founder and owner of which could be only the state inter alia via the Naftogaz of Ukraine national joint-stock company or (in case of a joint-venture) the state inter alia through Naftogaz of Ukraine (possession of at least 51% of corporate rights); and a legal entity (legal entities) that belong to and are controlled by residents of EU member countries, the United States or the Energy Community, and is/are the operator/s of the gas transport system or a member/s of the European network of operators of the gas transport system.

As Ukrainian News earlier reported, on June 4, the Cabinet of Ministers decided to establish public joint-stock companies Main Gas Pipelines of Ukraine and Underground Gas Storage Facilities of Ukraine.

The two companies will be created on the basis of Naftogaz of Ukraine.

Besides, the Cabinet of Ministers decided to pass the functions of control over the Ukrainian gas transport system to the Ukrtransgas company, the operator of the Ukrainian gas transport system, instead of Naftogaz of Ukraine.