A competition for choosing an appraiser of the Ukrainian gas transportation system, held by NJSC Naftogaz of Ukraine, was like a window-dressing rather than a real competition.
Expert of the Institute for Energy Research Yuriy Korolchuk told a round table “Real Perspectives of National GTS. Is there Possibility to Preserve Gas Transportation System of Ukraine as State Ownership?" UKRINFORM reports.
“This process was more like a window-dressing,” Korolchuk has said. According to him, British company Ernst & Young was invited to participate in a competition only in order to raise the image of this appraisal “so that everyone saw that a large image-building global company is participating, although it had the largest perspectives to win this competition and to actually hold this appraisal.”
Currently, according to Korolchuk, appraisal of the GTS will be held only based on Naftogaz's accounting data and nobody will carry out real “field” work.
In turn, ex-Advisor of State Property Fund Chairman Volodymyr Lartsev said that the fact that the U.S.-Ukrainian firm Thomas & Simonova was not allowed to the competition testifies to the fact that the competition winner was known beforehand. According to his information, this company proposed to hold the GTS appraisal at UAH 3 million, which is the least of prices offered for this service.
At the same time, Lartsev emphasized, according to preliminary estimate of Thomas & Simonova, the GTS price by profits makes up about USD 61 billion, and by expenses - about USD 47 billion. “It is clear that this is an approximate figure, however, in the majority of cases such approximate estimates could be more real and closer to the truth against those, made professionally,” he noted.
In the expert's conviction, following approval of professional estimates at relevant instances, such appraisals will be distorted “toward the necessary.” “The fact that the firm Thomas & Sinomova was not allowed testifies to the fact that the Russian party on agreement with the Ukrainian party does not wish to show more than USD 20 billion,” the expert said.
As the agency reported, company Baker Tilly Ukraine became a winner of the competition for appraisal of assets of the Ukrainian gas transportation system, which requests for this service UAH 4.1 million.
Four companies submitted their proposals for participation in the competition to choose an appraiser of the Ukrainian gas transportation system, among them, PP Thomas & Simonova (Kyiv, Ukraine), Duff & Phelps (New York, USA), Baker Tilly Ukraine (Kyiv, Ukraine) and Ernst & Young (Kyiv, Ukraine).
Duff & Phelps proposed to appraise the gas transportation system at UAH 4.4 million, whereas Ernst & Young - for UAH 5.92 million. At the same time, a proposal from Thomas & Simonova was turned down, since the company documentation does meet the tender terms.
The Ukrainian GTS was appraised twice. In 2007, the Image Consulting Company named a price at USD 24 billion. In 2009, Consulting Company Uvecon decided that the GTS value does not exceed USD 10 billion. At the same time, OJSC Gazprom head Alexei Miller has said December 30 that Ukraine estimates its GTS at USD 20 billion, which he considers to be an excessive price.
Expert of the Institute for Energy Research Yuriy Korolchuk told a round table “Real Perspectives of National GTS. Is there Possibility to Preserve Gas Transportation System of Ukraine as State Ownership?" UKRINFORM reports.
“This process was more like a window-dressing,” Korolchuk has said. According to him, British company Ernst & Young was invited to participate in a competition only in order to raise the image of this appraisal “so that everyone saw that a large image-building global company is participating, although it had the largest perspectives to win this competition and to actually hold this appraisal.”
Currently, according to Korolchuk, appraisal of the GTS will be held only based on Naftogaz's accounting data and nobody will carry out real “field” work.
In turn, ex-Advisor of State Property Fund Chairman Volodymyr Lartsev said that the fact that the U.S.-Ukrainian firm Thomas & Simonova was not allowed to the competition testifies to the fact that the competition winner was known beforehand. According to his information, this company proposed to hold the GTS appraisal at UAH 3 million, which is the least of prices offered for this service.
At the same time, Lartsev emphasized, according to preliminary estimate of Thomas & Simonova, the GTS price by profits makes up about USD 61 billion, and by expenses - about USD 47 billion. “It is clear that this is an approximate figure, however, in the majority of cases such approximate estimates could be more real and closer to the truth against those, made professionally,” he noted.
In the expert's conviction, following approval of professional estimates at relevant instances, such appraisals will be distorted “toward the necessary.” “The fact that the firm Thomas & Sinomova was not allowed testifies to the fact that the Russian party on agreement with the Ukrainian party does not wish to show more than USD 20 billion,” the expert said.
As the agency reported, company Baker Tilly Ukraine became a winner of the competition for appraisal of assets of the Ukrainian gas transportation system, which requests for this service UAH 4.1 million.
Four companies submitted their proposals for participation in the competition to choose an appraiser of the Ukrainian gas transportation system, among them, PP Thomas & Simonova (Kyiv, Ukraine), Duff & Phelps (New York, USA), Baker Tilly Ukraine (Kyiv, Ukraine) and Ernst & Young (Kyiv, Ukraine).
Duff & Phelps proposed to appraise the gas transportation system at UAH 4.4 million, whereas Ernst & Young - for UAH 5.92 million. At the same time, a proposal from Thomas & Simonova was turned down, since the company documentation does meet the tender terms.
The Ukrainian GTS was appraised twice. In 2007, the Image Consulting Company named a price at USD 24 billion. In 2009, Consulting Company Uvecon decided that the GTS value does not exceed USD 10 billion. At the same time, OJSC Gazprom head Alexei Miller has said December 30 that Ukraine estimates its GTS at USD 20 billion, which he considers to be an excessive price.
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