The strategy's main message is to transform the company from a purely mining company to a national energy services operator.
In particular, it envisages 3 areas of the company's business development:
- Gas business
- Business-to-consumer (B2C)/utility
- Low carbon energies
Naftogaz CEO Andrey Kobolyev noted:
- We are waiting for a reform in the segment of the electricity market
- We need it because we want to sell not only gas but also electricity to household consumers
Obtaining the possibility of exploration & development of these areas will increase the estimated production potential of the company in case of successful exploration 5 times - up to 600 billion m3.
To fully realize this potential, Naftogaz must invest $ 20-25 billion, of which about $7 billion — over the next 5 years.
Otto Waterlander, Chief Operating Officer of Naftogaz, noted:
- These are ambitious goals
- However, if we succeed, the Naftogaz Group will become a catalyst for economic growth and prosperity of the country
- We are talking about significant budget revenues, greater partnership opportunities for financial institutions and businesses
- In the next 5 years (2021-2025), our business plan provides that we will invest $7.3 billion in upstream & production
- In 2026-2030 we will double this amount (to $14.1 billion)
In 2014, Naftogaz's Strategic goals were not approved by the Cabinet of Ministers.
In 2017, the government did not approve Naftogaz's Strategy Affordable Energy for Ukraine.
In late 2020, the Cabinet of Ministers approved a new ownership structure of the company and its Strategy.
