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auction on April 28 but received no bids. Gazprom was pumping the full allotment of 124 mcm per day on average through Ukraine in April.
If Gazprom had accepted the GTSO offer then transit volumes would have returned to 2019 levels.
Europe is currently dramatically increasing gas consumption due a but of cold weather. Global supplies of liquefied natural gas and pipeline gas from Russia are at their highest levels in a year, which has prevented the pumping of gas into Ukraine’s storage for winter. The price of gas has risen from last year’
In January 2021, Gazprom transported 124.51 mcm per day on average through Ukraine, in February - 104 mcm, and in March - 119.5 mcm.
Ukraine’s national gas company Naftogaz cut capital expenditures by UAH12.193bn ($439mn), or 44.5% y/y, in 2020 compared to the UAH15.044bn it spent in 2019, the company said on April 28.
As indicated in the consolidated statements of the group published, capex of the exploration and production segment was UAH11.023bn (a fall of 26.2% to 2019), oil midstream and downstream – UAH1.185bn (a fall of 35.4%), Ukrnafta – UAH1.113bn (a fall of 23%), gas storage – UAH0.143bn (a rise of 3.3 times), commerce – UAH0.133bn (a rise of 11.1 times), other – UAH1.448bn (a fall of 83.8%), Interfax Ukraine reports.
Naftogaz reported a large loss in 2020 of UAH19bn compared to a net profit of UAH63.294bn in 2019. Excluding the results of the discontinued operations, including a Gas Transit Arbitration award paid by Gazprom to Ukraine last year of UAH55.7bn, the company had a net profit was UAH2.6bn.
Naftogaz's revenues in 2020 grew by 27.1% (by UAH41.184bn) compared to 2019, to UAH193.017bn, including income from sales of UAH159.234bn (a rise of 6.3%), compensation for performing public service obligations totalling UAH32.205bn (a rise of 100%), and interest and other income reaching UAH1.578bn (a fall of 23.1%).
Naftogaz net loss as a separate legal entity amounted to UAH18bn in 2020 versus UAH50.7bn of net profit for 2019. Net income last year decreased 32.1% compared to 2019, to UAH121.059bn.
9.2.3 Transport corporate news
The reform on the division of Ukrzaliznytsia into cargo and passenger directions and its unbundling has now been completed by about a quarter and it will take at least another two to three years to end, acting Head of the company's board Ivan Yuryk has said.
Kyiv Economic Court ruled on May 13 to stop a possible enforcement of the charge from Ukrainian Railwayspercentageof debt to VR Global Partners under eight rulings of Ukrainian courts, finbalance.com.ua news site reported on May 18. Recall, in 2019, VR Global Partners purchased Ukrainian Railway’s debt to Prominvestbank with a par amount of $153mn. VR Global has already won litigations against Ukrainian Railways in appellate courts and the Supreme Court (six rulings implying the company has to pay
68 UKRAINE Country Report XXXX 2018 www.intellinews.com