The privatization of Ukraine's energy sector is the only way to reduce corruption and allow the industry to operate transparently on market principles, attracting private investment, according to Naftogaz CEO Oleksiy Chernyshov. "The main source of corruption in the energy sector is its regulation and the state's heavy involvement in it. Once we transition to a fully market-based energy sector in Ukraine, there will be no reason or motivation for corruption," Chernyshov said.