Naftogaz of Ukraine Threatens to Cut Gas Supplies to Firtash Controlled Companies

According to Naftogaz of Ukraine, it warned Rivneazot and Krymsoda (KSOD: N/R), both under Dmytro Firtash’s control, that it will cut off gas supplies to these companies, if they do not reach a corresponding agreement with Gas Ukraine, a Naftogaz subsidiary, by April 21. Rivneazot responded by saying that the threats were groundless as it has signed an agreement for gas supplies with Ukrgaz-Energo. Vladimir Nesterenko: We do not believe that Naftogaz’ threat to cut gas supplies this year will have a material effect on Firtash related companies, as he remains a controlling shareholder in RosUkrEnergo, which will supply all imported gas to Ukraine this year.