Ukrtransgaz fully settled with suppliers despite debts from gas market participants

Ukrtransgaz continues to implement the best global practices and standards of business partnership. The main focus of the company is on transparency and openness of all processes and clear compliance with financial and contractual discipline.

As a result, in the five months 2020 Ukrtransgaz does not have outstanding receivables to its partners for construction and repair works and services and for supplied materials and equipment. The company fulfils its obligations to its partners faithfully, despite the fact that the total debt of gas market participants to Ukrtransgaz for balancing services in 2016-2019 amounts UAH 43,8 bln.

Ukrtransgaz started reforming the procurement system several years ago. The company has implemented standard contracts and transparent requirements for procurement participants on basic nomenclature items. A system of monitoring quality and deadlines of contracts performance has been also integrated, both on the part of suppliers and contractors and on the part of the client.

“Step by step Ukrtransgaz implements international standards of cooperation with partners and ethical business conduct. We understand our responsibility not only for our employees, but also for the suppliers and contractors that provide the necessary functionality for the reliable and uninterrupted operation of our UGS facilities and service branches, – said Sergiy Oleksienko, CEO of Ukrtransgaz JSC. – Despite the quarantine, financial situation in the country and the debts of the gas market participants for balancing service to Ukrtransgaz, we manage to fulfill all obligations to the counterparties. This confirms reputation of Ukrtransgaz as a reliable partner for conducting business”.