NJSC Naftogaz of Ukraine will be restructured by January 1, 2012, Ukraine's Energy and Coal Industry Minister Yuriy Boiko has told reporters Wednesday, according to UKRINFORM.

According to him, an interdepartmental working group has been set up to form a package of documents for that.

The minister added that in 2012 Naftogaz will be privatized or will hold IPO, or its shares will be partially sold through international financial markets.

"Consultants are working to choose the most appropriate model [of restructuring - ed.]," Boiko emphasized.

Asked by reporters about the settlement of accounts payable by Naftogaz, the minister explained that these obligations will be repaid in the course of incorporation of the company.

"We are negotiating with partners to whom Naftogaz has loan commitments. We have decided to sell the company's shares, which will be used to repay the loan," the minister added.

"All commitments will be fulfilled. The sale of shares will ensure repayment of the loan," - he added.

During the company incorporation it is planned to receive USD 7 billion, which, according to the calculations of the ministry, should be enough to increase production and investment by the state in gas production.

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