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17 June, 2013 12:00   ▪  

Eastern-European Fuel and Energy Company (SYePEK) to import Russian gas to Ukraine: another play of Yanukovych's Family

Eastern-European Fuel and Energy Company (SYePEK) owned by Serhiy Kurchenko whose business is linked to Viktor Yanukovych's Family, according to some Ukrainian politicians, starts negotiations to buy nearly 5bn cu m from Gazprom annually.

“SyePEK is in negotiations on provision of natural gas with all possible suppliers, including those from Russia,” the company representative confirmed, according to Komersant Ukraine.

Energy Minister Eduard Stavytskyi mentioned last week that new importers of Russian gas would soon emerge in Ukraine. On Friday, Vice Premier Yuriy Boyko stated that “if SYePEK sees it economically reasonable, it may start importing gas from Russia... and the government does not mind this.”

Ukraine is projected to consume 60bn cu m in 2013. SYePEK intends to supply gas to industrial consumers that need nearly 22bn cu m annually.

SYePEK comprises companies that were earlier part of the Gas Ukraine group. It trades liquid and natural gas, a wide range of petroleum products and goods for the oil and gas industry.

According to official data, the major shareholder of the group is Serhiy Kurchenko, the Kharkiv-based businessman and the owner of Metalist football club.

READ ALSO: Diversification or Dmytrification?


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