Page 64 - UKRRptJul22

9.2 Major corporate news 9.2.1 Oil & gas corporate news
Naftogaz has signed a memorandum with a Canadian company on liquefied natural gas supplies in the middle of June. Symbio Infrastructure plans to supply liquefied natural gas and green liquid hydrogen starting from 2027. Through its subsidiary, GNL Québec, Symbio is developing a carbon-neutral project in Quebec that can liquefy and export 10.5 million tons of LNG annually. The project is awaiting approval from regulators and is scheduled to begin work in 2027. The company plans to help diversify energy supplies to Europe and contribute to the energy transition by creating a promising zero-emission energy infrastructure for LNG production and becoming one of the world's largest exporters of clean hydrogen.
Naftogaz's net income for 2021 is UAH 13B, compared to a UAH 19B loss in 2020. The Cabinet of Ministers approved the Naftogaz Ukraine annual report for 2021 and recognized the work of the Naftogaz board in 2021 as satisfactory. The government approved Naftogaz's yearly report for 2021, which includes separate financial statements and consolidated financial statements together with the conclusions of an independent auditor, PWC. The government approved the following distribution of Naftogaz’s net profit: 95% of the net profit of UAH 12.4Bwill be used to pay dividends to the state budget; 5% of the net profit of UAH 652.6M will be retained as reserve capital.
9.2.4 Construction & Real estate corporate news
Kyiv's largest property developer resumes work with only 5% of its workers. Kyivmiskbud (KMB) Holding Company resumed work on June 1 on some construction sites, bringing back up to 500 people out of the 10,000 who were previously employed, as stated by President of KMB Igor Kushnir and reported by epravda.com. Of the 10,000 people who had previously worked at 30 construction sights and built 2.5 million square meters of living space, they have managed to gather 400-500 people. That's only 5%, and it is not so bad, Kushnir said. According to him, their labor force consists mainly of men from the western regions of Ukraine, most of whom were recruited to the Ukrainian Armed Forces. The president of KMB is confident that the number of workers will increase in the future, and that the number of construction sites put back into operation will rise.
9.2.5 Retail corporate news
A French investor has bought the Ukrainian network of Brocard stores from their Russian owner. French businessman Philippe Benacin has acquired a 100% stake in two leading Ukrainian cosmetics and perfume companies: Brocard-Ukraine and Egzagon. The amount of the agreement is not disclosed, reported the Retail Association of Ukraine. After completing all the documents, Philippe Benacin Holding will be the sole owner of both Brocard Ukraine LLC, which retails cosmetics and perfumes, and Egzagon LLC, one of Ukraine's largest distributors of beauty products. Since 2010, Brocard Ukraine has been owned by an offshore Cypriot holding company with Russian owners. At the beginning of 2022, the chain had almost 100 stores in 26 cities and employed 1,808 people.
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