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Cabinet appointed new supervisory board of Naftogaz

Previous independent board members resigned in September.

Cabinet appointed new supervisory board of Naftogaz
Photo: Photo: UA Energy

Ukraine's Cabinet of Ministers at its meeting on Wednesday, 22 November, appointed new members of the Supervisory Board of the national oil and gas company Naftogaz Ukraine. Prime Minister Volodymyr Groysman repeatedly stressed as he announced the draft resolution that the members supervisory board have agreed "with our international partners".

"As soon as a few former members of the supervisory board resigned, I began consultations with our international partners about the formation of a professional supervisory board," the prime minister said.

The board lineup includes: Clare Spottiswoode, UK, Bruno Lescoeur, France, Amos Hochstein, USA, Steve Heysen, Canada, Oleksandr Hrytsenko, Ukraine, and adviser to the prime minister Serhiy Popyk, Ukraine.

"Clare Spottiswoode. Has years of experience in the oil and gas sector and great track record in the gas sector, created gas a market in the UK and worked in an independent regulator in the UK. Bruno Lescoeur. He has worked in top positions in largest energy companies in France. Amos Hochstein. He is a former US diplomat, knows Ukraine very well, helped us in matters of gas reversal, an experienced person. Steve Heysen. A citizen of Canada, one of the world's best experts in the exploration and production of gas. Oleksandr Hrytsenko. He is the chairman of the board of our Ukreximbank. Serhiy Popyk. An adviser to the prime minister for foreign affairs, has some diplomatic background," Groysman said as he presented the members of Naftogas supervisory board.

In mid-September, Naftogaz reported the intention of the independent members of the Supervisory Board of the company to resign due to political pressure.

The company reminded that independent members of the board back in April complained against the government's failure to implement the corporate governance plan for the company. No progress in this matter has been made ever since.

In response, Prime Minister Volodymyr Groysman said that the Supervisory Board of Naftogaz will be updated.