The Kyiv Economic Court took up Ukrgasenergo’s bankruptcy petition from Ukrtransgas PJSC.

The preparatory meeting will be held next week on August 14, EP reports.

According to EP, Ukrtransgas’ initiative is officially explained with Ukrgasenergo’s debt, amounting to UAH 580 mln. It was formed during the performance of the agreement №117-36 dd. 28 February 2007, under which GTN operator provided gas transportation services to the trader.

These arrears were declared by the court in 2010, and in 2011, the respective order was given for its performance. However, consequently, Ukrgasenergo obtained a delay in fulfillment of this decision.

The prolongation expires this year, due to which on July 13 the trader filed application for a new delay for 5 years – until 2022. This initiative was recognized by Ukrtransgas as the trader’s insolvency, which became the formal reason for starting the bankruptcy of the latter.

Ukrtransenergo was created in 2006 within the organization of a new scheme of gas supplies to Ukraine with involvement of Rosukenergo. Except for this Swiss company, Naftogaz of Ukraine NJSC was UGE’s founder then.

Then Naftogaz stated the necessity of liquidation of Ukrgasenergo in order the lawyers could use the latter as the formal reason for initiating proceedings on excluding NJSC from the composition of founders of the community. The respective petition was satisfied by the court in late 2013.

Currently, 50% shares of Naftogaz in Ukrgasenergo were transferred to possession of the latter.

Other 50% of trader’s authorized capital currently belong to Dmitri Firtash’s Centragas Holding, which purchased this package from Rosukrenergo short before the liquidation.