Market Analysis

Government has started re-distribution networks. Yesterday, Cabinet issued an order passed by the network 42 oblgazov NAK Naftogaz of Ukraine.

The company has already decided to create a management structure for the networks- Naftogazmerezhi - and the opening of regional offices. But experts expect a prolonged legal dispute with the owners oblgazov.

Yesterday in the newspaper Урядовый Courier was published by order of the Cabinet of Ministers № 775 dated June 10, according to which the state gas distribution network of 42 regional gas supply companies are transferred to the balance of unnamed subsidiary of NAK Naftogaz of Ukraine.

These networks oblgazov and gorgazov that had previously been on the balance sheet of the Fund's state property. Network, located in the municipal property, for example, Kievgaza, the company is not transferred.

In

NJSC Naftogaz of Ukraine refused to comment on this decision. But a source at the company told the board that the NAC has approved the creation of control structures for networks - Naftogazmerezhi - sending the relevant documents for harmonization in the Ministry of Fuel and Energy. We discussed how to manage and maintain in proper condition of the network in the regions. In some areas we are already preparing for the opening of the regional units, - the interlocutor. According to him, in some parts of the network can be serviced oblgazami who will get a certain fee.

About

intention before the end of the year to transfer all oblgazy of state property, Prime Minister Yulia Tymoshenko announced in March.

Thus the government intends to concentrate in their hands to control the sale of natural gas in the country. Advisor to prime minister on energy issues, Alexander Gudyma then argued that the appeal to the idea of state property in return oblgazov Cabinet made the statement businessman Dmitry Firtash of control over more than 75% of Ukrainian oblgazov.

Previously the Government has already tried to re-oblgazov (in 2006-2007), and even establishing a goskompaniyu Ukrgazseti. But in 2008 the idea go, recognizing such schemes ineffective management. Ukrgazseti could not operate oblgazy and to monitor the safety of distribution networks, because they did not have the necessary technical facilities. In addition, oblgazy benefit claims to Naftogaz, forcing him to extend the contracts for the management of distribution networks.

Yesterday oblgazah reluctant to comment on the decision of the Cabinet. We decided to take pause and examine it, - said the press secretary of the Gazeks (manages five oblgazami) Maria Zubareva. While the gas distribution network is on the balance sheet of State Property Fund, managed by Naftogaz. The company we leased them to the rental and maintenance, - explained the source of Poltavagaz .- The transfer of the balance on the balance of authorities does not mean that our leases ceased to act.

therefore wait until all of the events will develop.
Head of the Temporary Investigation Commission of Verkhovna Rada on the gas issue Inna Theological confident that terminate leases of gas distribution networks Naftogaz will in the courts. I think that position oblgazov the courts will be strong enough. They have invested in upgrading their own networks of considerable means, and can now prove that it is no longer on the state and the joint property, - said Mrs. Theological.

Managing partner of law firm Astapov Lawyers Andrei Astapov believes that, given the opacity of the ownership structure of oblgazov, trials could take one and a half to two years.

And in the opinion of the analytical department of the IR Brokerkreditservis Maxim Shein, oblgazov decide the fate of the outcome of the presidential election. If they lose Yulia Tymoshenko, one can hardly hope for a continuation of the story, - he said.

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