The Parliament of Ukraine last month adopted a law that seeks to change the ownership structure of the country's Unified Gas Transportation System (GTS) by offering investors in Europe and America up to a 49 percent share.
Currently, GTS and the underground gas storage facilities are operated by a 100 percent state-owned company.
Titled “On Bringing Amendments to Some Laws of Ukraine with Respect to Reforming the System of Management of the Unified Gas Transportation System (GTS) of Ukraine,” the law allows transfer of the GTS and UGS assets for lease on a paid basis.
It also provides that the functions of the GTS operator may be performed by a commercial entity by the State of Ukraine or a joint venture; stipulates that the country's Ministry for the Energy and Coal Industry may make operator decisions; and requires operators to be approved by the Ukraine parliament
The law is pending approval by Ukraine President Petro Poroshenko.