Naftogaz of Ukraine is analyzing data published by the International Consortium of Investigative Journalists (the ‘Panama Papers’). At present, two employees of Naftogaz group have been identified in the lists. Additional information regarding these two cases is provided below.

Sergiy Konovets, Deputy Chairman of the executive board at Naftogaz, is a minority shareholder of Kvassir Global inc., a holding company registered in the British Virgin Islands in 2009, at the time when Sergiy lived and officially worked outside of Ukraine. The companies comprising the group are engaged in the production of pet litter material. Kvassir Global inc.’s business is not connected with Mr. Konovets’ work for Naftogaz; the company is not and has not been either a customer or a supplier of any enterprises within Naftogaz group, nor any other enterprises in the oil and gas industry of Ukraine. The investment in Kvassir Global inc. has been duly reflected in tax returns filed by Sergiy Konovets since he relocated back to Ukraine. The company is co-owned by number of Ukrainian and foreign investors who are not related to Naftogaz group, are not and have not been public officials, are not and have not been engaged in political activities.

Mykola Gavrylenko, Chairman of the executive board at Ukrtransnafta PJSC, has been named as a co-owner of TURITELLA, a company registered in 1999 in Panama. In 2007, Mykola Gavrylenko withdrew as a shareholder of TURITELLA, and he has not been related to the company ever since.

The internal investigation has found neither violation of Naftogaz group policies nor conflict of interest that could be related to the work of these executives in Naftogaz group. We proceed analyzing the list of persons named in the Panama Papers, and will keep you informed of any other findings.