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Crimea nationalises oil and gas assets

3 Crimea based companies are affected by new resolution.

The Crimean parliament has nationalised the assets of three of its main oil and gas companies, shortly after a referendum in which Crimea declared that it wished to join the Russian federation, according to news site Itar-Tass.

The parliament passed legislation regarding Chernomorneftegaz Oil & Gas Company, Ukratransgaz, a division of Naftogaz of Ukraine, and the Feodosiya Enterprise for the supply of petrochemical products at an extraordinary plenary session on Monday.

The parliament-adopted resolution says that all movable and immovable property of the state joint-stock company Chernomorneftegaz, its continental shelf and the exclusive (maritime) economic zone, is now the property of the Republic of Crimea.

“All property included or excluded from the Chernomorneftegaz authorized capital, including (Ukraine’s) state property which was handed over to Chernomorneftegaz for use and which is on its balance or off its balance sheet now belongs to Crimea“ the Crimean deputies said in the resolution “On Energy Security of the Republic of Crimea.”

The parliament adopted a similar resolution on movable and immovable property of the Ukrtransgaz Company based in Crimea.

The resolution says alongside that Crimean assets of the state-owned Feodosiya Enterprise for the supply of petrochemical products have been transferred to the Crimean ownership.

The Crimean Council of Ministers has given consent to the creation of a republican enterprise, Chernomorneftegaz, and the Crimean republican enterprise, The Feodosiya Enterprise for the supply of petrochemical products.

“The aforesaid enterprises have been nationalized with an aim to ensure ecological and energy safety, create conditions for extracting, storing and transporting hydrocarbons across the Crimean territory; supply Crimean residents with energy resources and ensure uninterrupted work of life-support facilities,” the Crimean parliament said in its resolution.

Crimea’s Supreme Council (parliament) on Monday voted for a resolution on Crimea’s independence from Ukraine by 85 votes to 100. The document also says that Crimea has asked Russia for permission to join it as a constituent entity.

Staff Writer

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