international magazine
02 / 2010

Three objectives for Eugene Bakulin, new Naftogaz Ukrainy CEO

In February Eugeny Bakulin took over position of Ukraine's state owned Nak Naftogaz Ukrainy CEO from Oleg Dubina. Newly appointed Ukraine's fuel and energy minister Yury Boyko had Eugene Bakulin introduced to the Naftogaz staff. Bakulin's key objective is to retain the Russian natural gas transit volumes via Ukraine. In order to achieve this, Naftogaz will have to convince the Russian side to at least postpone construction of the subsea South Stream natural gas link from Russia to Italy via the Black sea and Adriatic seas. This needs to be made via attracting the Russian side as one of the key shareholders of the natural gas transportation consortium to be created in order to operate Ukraine's natural gas transportation systems.