Ukraine appoints supervisory board at Gas Transmission System Operator

MOSCOW. Nov 1 (Interfax) - Ukraine's Cabinet has approved nomination committee recommendations submitted by the Economics Ministry for the appointment of four members to the supervisory board of the country's Gas Transmission System Operator (GTSOU).

The recent supervisory board chairman of Mahistralni Gazoprovody Ukrainy (MGU), Jan Chadam, former CFO of Austria's OMV David Charles Davis and former Naftogaz Ukraine deputy CEO in charge of finance Sergei Konovets have been appointed to the board as independent directors, Ukrainian media reported, citing the government website.

The government's representative on the board will be Deputy Energy Minister Svetlana Grinchuk.

Ukraine's parliament passed a law to optimize the ownership structure of the country's gas transport system operator on July 28 and it was signed by the president on August 31. The law, which aimed to eliminate the complex system of management for Ukraine's gas transport companies, called for MGU to be merged into GTSOU.

Under the law, MGU transferred its corporate rights at GTSOU to the Energy Ministry, as stipulated in a memorandum with the International Monetary Fund. October 31 was the deadline for appointing the supervisory board.