Serhiy Korotetskyi is appointed as the new CEO of Ukraine's Naftogaz

Naftogaz, Ukraine's national oil and gas company, announced on Tuesday that Serhiy Koretskyi would be its new CEO effective May 14.

Koretskyi, an engineer and economist, is the CEO of Ukrnafta & Ukrtatnafta which are both part of Naftogaz.

In 2022, he took over Ukrnafta - Ukraine's largest petroleum company.

Naftogaz released a statement saying that "Mr Koretskyi's combination of experience in the SOE sector and the private sector will allow him to lead Naftogaz effectively through the current wartime challenges as well as the post-war economic growth."

Oleksiy Cernyshov was appointed as deputy prime minister in December 2024 and left Naftogaz.

Naftogaz, Ukraine's largest gas producer, also dominates gas imports. The need for gas imports has increased sharply since a series large-scale Russian assaults on Ukrainian gas production plants in early 2025.

Serhiy Makovon, the former head of Ukraine's gas transit operator, stated this month that the nation is in dire need of a new energy source.

You can find out more about it here.

Importing up to 6.3 billion cube meters of gas during the winter of 2025/26 could cost up to $3 billion, as reserves have fallen to record lows.

Naftogaz stated this week that it was

in talks

With the help of the government and international financial institutions, we will raise 1 billion Euros to buy over 2 bcms of gas during the heating season 2025/26.

The company said it would use 430 million Euros from the EBRD, Norway and other sources to buy an additional 1 bcm gas.

Ukrainian energy officials say the country will need around 13 billion cubic meters of gas stored for the heating season 2025/26, including imports as well as domestically produced gas. Reporting by Anna Pruchnicka and Pavel Polityuk, both in Gdansk; editing by Kate Mayberry

(source: Reuters)