UkrGazEnergo Strengthens its Position in Several Gas Distributing Companies

This week, shareholders of ZakarpatGaz and VolynGaz elected Igor Voronin as Head of their supervisory boards. Last week Igor Voronin was appointed for the same position in RivneGaz. There were two newly appointed representatives of UkrGazEnergo among the members of RivneGaz supervisory board. Alexander Paraschiy: These three gas distribution companies used to be controlled by the WOG group, which is rumored to have sold them to one of one of ex-top managers of Naftogaz. Now it looks like UkrGazEnergo has control over these companies. We believe the news is positive for all three companies, as UkrGazEnergo, the most powerful player in the Ukrainian gas retail business, can share its customer base with these GazCos in their regions.