Date: 9 months ago   Category: World business

The court has obliged the Cabinet of Ministers of Ukraine to review request of Yuzgas for extraction of slate gas


The administrative court of Kiev has lifted the ban of the government of the country on the right of extraction of slate gas by the Netherlands company Yuzgas at Yuzovskaya Square in the Kharkiv and Donetsk regions. It is said in the resolution of court published in the Unified state register of judgments Interfax reports. The court also recognized as illegal actions of the Minister of Energy and Coal Industry of Ukraine Igor Nasalik and has obliged the government to review request of Yuzgas for mining. The Cabinet of Ministers of Ukraine has supported on November 2, 2016 the initiative of the minister and has refused to the company the right for extraction of slate gas on the Yuzovsky area.Yuzgas of B.V. I have won a tender for mining in July of last year. At the same time the company has been registered on June 14, 2016. Her authorized capital is 1 thousand euros. 100 percent of shares belong to the Luxembourg fund Emerstone Energy which is owned by the company on management of assets of Emerstone Capital Partners, also from Luxembourg. Both structures are created in 2016. Materials on teme00:05 — on August 22, 2016 Kiev — for сланцыКак the Ukrainian authorities look for replacement Russian gazusvoy beneficiaries and investors of Emerstone doesn't open, being limited to information that in fund there are no Ukrainian or Russian investments. It is known that the citizen of Canada Yaroslav Kinakh who in the 90th years directed the Ukrainian representative office of the European Bank for Reconstruction and Development heads structure. At the president Yushchenko he was the adviser to the head of state. Earlier on this site I planned to be engaged in production the Netherlands-British oil and gas giant Shell. Ukraine has signed the production sharing agreement for a period of 50 years with the company in January, 2013 at the World Economic Forum in Davos. According to the optimistical scenario, on the Yuzovsky site it will be possible to extract 20 billion cubic meters of gas a year, and on pessimistic — 7-8 billion cubic meters. Investments into mining had to make 10 billion dollars. In March, 2015 Shell has expressed the intention to refuse cooperation with Ukrgazdobychey on the field. As the main reason of such decision called economic inexpediency of continuation of works. In October of the same year the company finally left the project.

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