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Ukrainian Naftogaz released its new corporate strategy-2025

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OIL & GAS

Ukrainian Naftogaz released its new corporate strategy-2025

Naftogaz Group launched a 3-pronged corporate strategy, which sets goals for the transformation of the company by 2025, and also provides guidance for the further development of the company by 2030. Source: Neftegazru

The strategy's main message is to transform the company from a purely mining company to a national energy services operator.

In particular, it envisages 3 areas of the company's business development:

  • Gas business
  • Business-to-consumer (B2C)/utility
  • Low carbon energies

According to the strategy, electricity for the consumer should appear in Naftogaz's product portfolio in 2022.

We are waiting for a reform in the segment of the electricity market. We need it because we want to sell not only gas but also electricity to household consumers.

Andrey Kobolyev, CEO, Naftogaz

In 2020 Naftogaz received some new promising upstream licenses.

Obtaining the possibility of exploration & development of these areas will increase the estimated production potential of the company in case of successful exploration 5 times - up to 600 billion m3.

To fully realize this potential, Naftogaz must invest $ 20-25 billion, of which about $7 billion — over the next 5 years.

These are ambitious goals. However, if we succeed, the Naftogaz Group will become a catalyst for economic growth and prosperity of the country. We are talking about significant budget revenues, greater partnership opportunities for financial institutions and businesses. In the next 5 years (2021-2025), our business plan provides that we will invest $7.3 billion in upstream & production. In 2026-2030 we will double this amount (to $14.1 billion).

Otto Waterlander, Chief Operating Officer, Naftogaz

This is Naftogaz's 3rd attempt to determine the company's development strategy.

In 2014, Naftogaz's Strategic goals were not approved by the Cabinet of Ministers.

In 2017, the government did not approve Naftogaz's Strategy Affordable Energy for Ukraine.

In late 2020, the Cabinet of Ministers approved a new ownership structure of the company and its Strategy.

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