Security Service of Ukraine detects 20mn UAH misappropriation in Ukrtransgaz

The Security Service of Ukraine (SSU) has detected misappropriation of almost UAH 20 million (about USD 1 million) state funds by the officials of one of regional branches of Ukrtransgaz gas transmission system operator, the SSU press center reports. 

The source says that in 2012-2013 a commercial structure provided machinery overhaul services to the company. The employees of the gas enterprise, in collusion with the businessmen, tripled the cost of the overhaul operations. The parties unlawfully appropriated the state funds. “The offenders transferred the funds to the accounts of fictitious commercial structures and embezzled the money after converting it into cash,” says the source. A criminal case has been instituted.         

Ukrtransgaz exploits 12 underground gas storage facilities with a total capacity of about 31bn c m. The facilities are part of Ukraine’s system of gas supply and gas transit via Ukraine. Naftogaz of Ukraine is the sole owner of Ukrtransgaz.