Naftogaz names new chief of company's gas direction

Andriy Favorov, co-owner of the Energy Resources of Ukraine private company, has been appointed head of the gas direction of NJSC Naftogaz of Ukraine.

According to the company's press service, he will be in charge of gas production, wholesale trade and retail sales of gas.

"Naftogaz is paving the way for changes in our country. This is a difficult task, but working at Naftogaz, a lot can be done to change the situation in Ukraine for better. That is why I was glad to accept the offer to join the Naftogaz team," the Naftogaz press service quoted Favorov as saying.

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To avoid conflict of interests, Favorov is selling his stake in the Energy Resources of Ukraine to other partners and has already resigned as the company's CEO.

The press service also recalled that from September 2010 to July 2014, Favorov held the position of commercial director of DTEK energy holding, as well as business development director at ContourGlobal from May 2009 to July 2010. Prior to that, he also worked in senior positions at AES Corporation.

UNIAN memo. NJSC Naftogaz of Ukraine is the largest state-run vertically integrated oil and gas holding whose subsidiaries account for about 90% of oil and gas production in Ukraine. Naftogaz develops oil and gas fields, produces crude oil and natural gas. Its core business is also transportation and trade in fuel through its own network of filling stations.