Vasil Kisil & Partners participates in a round table discussion entitled "Ukrainian Subsoil vs. Russian Gas"
11/03/2009
On March 10, 2009, a round table discussion entitled "Ukrainian Subsoil vs. Russian Gas" was held as part of the “Internaftagaz-2009” exhibition held annually in Kyiv.
The discussion was dedicated to issues related to Ukraine's extracting industry development, domestic sales of Ukrainian natural gas, procedures for granting special permits to exploit subsoil, legal aspects of extracting industry regulation, investment attractiveness of Ukraine.
The round table participants, which this year included representatives of national companies active in the sphere of geology, subsoil and natural resources exploitation, public associations of gas traders, subsoil users and private companies, believe that such factors as political instability currently existing in Ukraine and constant changes of legal framework do not favor the investments in Ukraine's extracting sphere.
Mykhailo Shchitka, Polina Zagnitko and Artem Krenbok of Vasil Kisil & Partners took an active part in discussing legal regulation of extracting sector and expressed their opinions in respect of possible ways to optimize national laws and regulations in the sphere of energy and mining. They pointed out that transparency and clearness of legal framework constitute the main factor for the investors, and never before the market has been in such need of further legislative development and implementation.
As the outcome of the debate, round table participants remained unanimous in their urge to activate the process of establishing and improvement of legal framework regulating the Ukrainian gas extracting industry.
The discussion was dedicated to issues related to Ukraine's extracting industry development, domestic sales of Ukrainian natural gas, procedures for granting special permits to exploit subsoil, legal aspects of extracting industry regulation, investment attractiveness of Ukraine.
The round table participants, which this year included representatives of national companies active in the sphere of geology, subsoil and natural resources exploitation, public associations of gas traders, subsoil users and private companies, believe that such factors as political instability currently existing in Ukraine and constant changes of legal framework do not favor the investments in Ukraine's extracting sphere.
Mykhailo Shchitka, Polina Zagnitko and Artem Krenbok of Vasil Kisil & Partners took an active part in discussing legal regulation of extracting sector and expressed their opinions in respect of possible ways to optimize national laws and regulations in the sphere of energy and mining. They pointed out that transparency and clearness of legal framework constitute the main factor for the investors, and never before the market has been in such need of further legislative development and implementation.
As the outcome of the debate, round table participants remained unanimous in their urge to activate the process of establishing and improvement of legal framework regulating the Ukrainian gas extracting industry.