The current state of affairs in Naftogaz's operations and the practical outcomes of corporate governance implementation.

This was discussed at a meeting between the First Deputy Prime Minister and Minister of Economy of Ukraine, Yuliia Svyrydenko, and the leadership and members of the Naftogaz Supervisory Board on September 11 in Kyiv.  

First Deputy Prime Minister Yuliia Svyrydenko highlighted the progress of the company’s corporate reform.  

"Naftogaz became the first state-owned company to begin implementing best corporate governance practices based on OECD standards. The path of reforms was not easy, but today we see the results. The Supervisory Board, selected through a transparent competition, is working effectively, and the company is showing growth, particularly in gas production. From January to July, 8.6 billion cubic meters were produced, which is 7% more than in the previous year. This proves that we have chosen the right course and must continue working on the reform’s implementation,” Yuliia Svyrydenko said.

Anthony Marino, Chair of the Supervisory Board of Naftogaz, noted that the progress achieved through corporate governance reform is the result of quality dialogue, commitment, and execution by the management and Supervisory Board.  

"We are united by the goal of achieving Ukraine’s strategic objective—energy independence. We are making progress in this direction despite the wartime conditions,” said Anthony Marino.

In the first seven months of 2024, Naftogaz Group paid over UAH 53 billion (USD 1.3 billion) in taxes, reflecting an increase of nearly 10% compared to the same period last year.

KeyFacts Energy: Naftogaz Ukraine country profile