KYIV, June 24 – Naftogaz Ukrayiny cannot support JSC Ukrtransgaz, being on the verge of bankruptcy over billion-hryvnia debts accumulated by operators of gas distribution systems.

"For half a year we have been saying that Ukrtransgaz may become bankrupt due to artificially low rates and unauthorized gas pumping. Unfortunately, the responsible authorities have chosen a strategy to ignore bad news, and the situation became critical. Naftogaz supported Ukrtransgaz as much it could, and we are their largest creditor. However, there is no more such a possibility. We have to accumulate gas in underground storage facilities, and we ourselves have a shortage of working capital," Naftogaz said in a press release, citing Chairman of Executive Board of Naftogaz Ukrayiny Andriy Kobolev.