Cabinet of Ministers of Ukraine recommends that the national joint-stock company (NAK) Naftogaz Ukraine of the National Electricity Regulatory Commission (NERC) and the number of ministries in the July-September, to submit recommendations to the Government for the revision of the price of natural gas for the population as of 1 October 2009.

According to the Government, laid down the order number 795-P of June 10 On approval of a plan of action in 2009 to stabilize the financial condition of NAK Naftogaz of Ukraine, the issue must also address the Ministry of Fuel and Energy, Ministry of Economy and Ministry of Finance.
So

recommendations regarding the price of gas for the population to economic levels, which should include the full investment component to build its own gas production.

addition, the Government instructed the Ministry of Fuel and Energy, National Electricity Regulatory Commission, the Ministry of Economy, Ministry of Finance, the Ministry of Labor and Social Policy, Ministry of Housing and Naftogaz of Ukraine to develop in July and August and the Government to file a plan of action for a gradual transition to economically viable prices for natural gas for all categories of consumers.

Ministry of Fuel and Energy, Ministry of Economy, Ministry of Finance and NAKu also charged with the July-August to prepare proposals to attract Naftogaz Ukrainy loans under government guarantees for investment projects on construction of Subbotinskogo oil field offshore the Black Sea, the design and arrangement of the Odessa and Bezimyannovo gas fields ; ensure loading of underground gas storage facilities.

The Government has instructed the State Tax Administration (GNA) of Ukraine, Ministry of Finance to provide over 2009 Naftogaz Ukraine and its subsidiaries ( Ukrgazvydobuvannya, Ukrtransgaz, Gas of Ukraine and GAO Chernomornaftogaz) installments to pay the amount tax liabilities arising in 2009, a period of up to 60 months in terms of tax credit.

Cabinet instructed the Ministry of Fuel and Energy, Ministry of Economy, Ministry of Finance, the State Customs Service STAU and NAKu in July and August to prepare and submit to the Government a draft law amending the Law of Ukraine On State Budget of Ukraine for 2009 on the cancellation of Naftogaz Ukraine and its subsidiaries ( Ukrgazvydobuvannya, Ukrtransgaz, Gas of Ukraine and GAO Chernomornaftogaz), penalty fees and penalties charged supervisory bodies for breaches of the tax, customs and currency legislation.

Ministry of Fuel and Energy, Ministry of Economy, Ministry of Finance, State Property Fund of Ukraine and NAKu mandated in July and August to prepare and submit a draft act of the Government for changes in the financial plans Ukrgazvydobuvannya and Ukrtransgaz in 2009 to improve finsostoyaniya these companies. In particular, the draft Act should provide for an increase in authorized capital Ukrgazvydobuvannya and Ukrtransgaz.

In addition, the Government instructed the Ministry of Fuel and Energy, Ministry of Finance and NAKu in July and August to develop regulations concerning the establishment for the production of Naftogaz Ukrainy zero-rate rental payment for natural gas extracted in Ukraine, which is sold subject to the Cabinet of Ministers authorized the formation of natural resource gas and gas condensate produced in the territory of Ukraine.

Ministry of Fuel and Energy, Ministry of Finance and NAKu in July and August to develop regulations concerning the establishment of gas companies to Naftogaz Ukraine zero-rate rental payment for transit transportation of natural gas.

As reported July 14, Cabinet instructed the Ministry of Finance to implement the issue of internal state loan (OVDP) in the amount of 18.6 billion UAH for the purpose of forming the Stabilization Fund of the state budget to increase the authorized capital of NAK Naftogaz of Ukraine.

Earlier, Prime Minister Yulia Tymoshenko said that the increase in the authorized capital of NACA to 24.2 billion UAH to ensure uninterrupted payments for imported gas and the subsequent injection into underground storage (UGS).

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