Naftogaz’ investment rating upgrade linked to a strong European orientation of the new Ukrainian government

John Suggitt, the managing director of Kyiv-based investment company Concorde Capital, mentioned that “Naftogaz Ukrainy” received its upgrade “because of Ukraine’s strategically moving towards European integration and it made the gas company’s involvement in shipping Turkmen and Russian gas through Ukraine to Europe is strategically vital”.

Newly elected President Yuschenko declares the changes of foreign policy orientation, which are positively perceived by international investors, as well as new opportunities, implied by European integration. “Even previous European integration ministers said Ukraine had no chance to enter the EU, now they’re saying it is quite realistic.This is where the impact is coming from. Joining the EU will imply many less legal problems, and much more liberty in the market for the Ukrainian gas players”, Suggitt added.