Ukrgaz-Energo — New JV for Gas Delivery to Ukraine

Russian gas giant Gazprom said on Thursday that they created a joint venture to supply Russian gas to Ukraine.

Ukraine's national oil and gas company Naftogaz Ukrainy and the intermediary RosUkrEnergo set up the join venture on a parity basis, which is called Ukrgaz-Energo and will be registered in Ukraine, Gazprom's press service was quoted by the Interfax news agency as saying. RosUkrEnergo is 50 percent owned by Gazprom.

The shareholders of Ukrgaz-Energo held a meeting in Kiev on Thursday, at which Gazprom deputy chairman Alexander Ryazanov was elected the new joint venture's chairman.

Ukrgaz-Energo will be engaged mainly in supplying natural gas and other types of energy resources to Ukrainian consumers.