11 Facts About Naftogaz

Naftogaz is a major Ukrainian employer with 68,386 employees.

Naftogaz received more than $6 billion of subsidies in domestic bonds from 2009 to 2012 as regulated gas prices and expensive Russian energy imports led to heavy losses.

Naftogaz publishes data on the amount of gas entering and leaving the country.

Also, the same year Naftogaz launched a new website in order to showcase its transparency initiatives.

In March 2018, "Naftogaz" won a trial against Russian Gazprom for shortened gas supplies before the Arbitration Institute of the Stockholm Chamber of Commerce, and was set to receive net amount of $2.

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Naftogaz asserts that ensuring gas flows freely will significantly improve the liquidity and the stability of the EU market, making it more resilient to political pressure.

Naftogaz has been seen as one of the biggest sources of corruption in Ukraine for years with many of the country's billionaires having acquired much of their wealth through gas arbitrage based on differences between the prices of Russian gas imports, gas exports to the EU and government energy subsidies to homes and businesses.

The embezzlement was part of the so-called “Boyko's Drilling Rigs” case, when, reportedly under the supervision of the Fuel and Energy Minister at the time, Yuriy Boyko, Naftogaz purchased two oil and gas rigs for $800 million, almost a double their real price, and allegedly laundered the overpaid money – some $330 million.

Naftogaz is believed to have since left the country to Russia, ostensibly for urgent medical treatment in Israel.

In October 2014, George Soros named Naftogaz to be "a black hole in the budget and a major source of corruption" and called for a radical reform of the company, which could "totally eliminate Ukraine's dependence on Russia for gas".

In October 2019, Naftogaz got caught up in the impeachment proceedings against President Donald Trump in the US, when news broke that a group of businessmen with allegedly close ties to the President and his personal lawyer, Rudy Giuliani, intervened in an attempt to change the management of Naftogaz.