Ukraine’s Main Gas Pipelines supervisory board reshuffled amid scandal
Major personnel reshuffles took place at the Main Gas Pipelines of Ukraine company (Photo:tsoua.com)
Jan Chadam has been elected as the new head of the PJSC Main Gas Pipelines of Ukraine supervisory board, replacing Huberte Bettonville, who had previously announced her early resignation from the board effective March 20, 2023.
The board made the decision on March 21, Interfax-Ukraine reported on March 4, citing a disclosure by the National Securities and Stock Market Commission.
The supervisory board on March 7 terminated the authority of acting CEO Oleksandr Lisnichenko and temporarily entrusted the duties to Denys Fudashkin, who has been director of economics and finance at the company since December 2020.
Bettonville wrote a letter to the Ukrainian Minister of Energy after resigning.
“Due to the course of the supervisory board meetings in recent months, especially the incompetent and unacceptable behavior of some members of the supervisory board, I have made the decision to resign. Despite my sincere efforts for the benefit of the company and the military resistance of Ukraine, some members of the supervisory board have shown that they will not and cannot apply EU standards and corporate governance principles,” she wrote.
She refused to continue to participate in the decision-making process and to creating additional cost for the company, she said.
Until recently, the supervisory board of MGP consisted of Huberte Bettonville, Jan Chadam, and Irina Marushko (all three – independent), as well as Viktor Pynzenyk and Tetiana Fedorova (both – state representatives).
Main Gas Pipelines of Ukraine (MGU) was created to become the operator of Ukraine’s gas transportation system. During the unbundling of Naftogaz of Ukraine (the country’s largest national oil and gas company), Operator of the GTS of Ukraine (OGTSU) was created to manage Ukrtransgaz’s gas transportation system. In turn, OGTSU was transferred to the ownership of MGU.
In October 2021, Energy Community Secretariat director, Janez Kopač, saidthat MGU had fulfilled its function and could be disbanded. At the same time, the Ukrainian government has been delaying the resolution of this issue.
In the memorandum approved in April 2023 between the IMF and Ukraine, the task is set to transfer the shares of OGTSU from MGU directly to the Ministry of Energy by the end of July, with corresponding changes to the statute.
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