REUTERS
Ukraine's largest gas producer, PJSC Ukrgazvydobuvannia, which is a Naftogaz fully-owned subsidiary, increased gas sales by 1.4%, to 13.002 billion cubic meters (bcm) in 2016 from 2015, to the parent company, which then resold the gas to households, according to an Ukrgazvydobuvannia representative.
"We sold 12.818 bcm in 2015 and 13.002 bcm in 2016. Thus, we boosted our gas sales to the population by 184 million cubic meters," First Deputy Chairman of the Ukrgazvydobuvannia Board Oleksandr Romaniuk said at a press conference on the results of last year.
Under contractual provisions, Ukrgazvydobuvannia shall sell gas to only one customer, NJSC Naftogaz of Ukraine, which then sells the gas to the population, he said.
Read alsoUkrainian gas reserves down to 11 bcmAs UNIAN reported earlier, the company increased natural gas production in 2016 by 0.5%, to 14.605 bcm, while production in 2015 fell by 3.8% from 2014, to 14.528 bcm.
Ukrgazvydobuvannya currently implements the "Strategy 20/20" program, which provides for boosting annual gas production to 20 bcm by 2020. Overall investment under the program is estimated at UAH 110 billion.
UNIAN memo. Ukrgazvydobuvannya is the largest gas producer in Ukraine, accounting for 70% of total hydrocarbon production in the country. In the summer of 2015, the Cabinet appointed Oleh Prokhorenko as Ukrgazvydobuvannia CEO and Director General as part of a management reshuffle at state-owned companies. Prokhorenko earlier worked as an Associate Principal at McKinsey & Company in Ukraine.