UNIAN: Ukraine GTS operator says losses more than double

By UNIAN.

Published Aug. 1, 2018 at 10:25 am

A compressor station of Ukraine's Naftogaz national oil and gas company near the northeastern Ukrainian city of Kharkiv. Ukraine has completed the process of separating its gas production company from its gas distribution network. Naftogaz and the transmission system operator will now be separate entities working independently of one another. Unbundling the gas system was a long-await reform critical to Ukraine’s greater integration with the European Union.

Photo by AFP

The operator of Ukraine’s gas transmission system, Ukrtransgaz, in January-June 2018 saw its losses increase by 2.5 times y-o-y, to Hr 17.73 billion ($474.36 million), according to the company’s report published on its website.

According to the report, over the 6 months of 2018, the company’s net income from sales of products decreased by 5.9 percent, to Hr 27.16 billion ($726.67 million), while gross losses were up 3.16 times, to Hr 7.36 billion ($196.92 million), compared to January-June 2017.