EY Values Ukraine Infrastructure at $12.5bn

Audit giant EY has valued Ukrtransgaz’s fixed assets at hryvnia 327.921bn, or about $12.3bn, according to a document signed off by parent company Naftogaz Ukrainy April 12.

The figure includes assets in the east of the country and Crimea which it no longer controls. Ukrtransgaz, 100% owned by Naftogaz of Ukraine, operates a system of main gas pipelines that brought in an estimated $3bn last year in transit fees and 12 underground gas storage facilities with a total capacity of 31bn m³.

The state-owned company is trying to market storage and transport capacity to shippers in the European Union, as its main booker was Gazprom, the Russian export monopoly. Gazprom no longer uses storage in Ukraine and is planning to slash its transit volumes once Nord Stream 2 and TurkStream come on line.