The Ukrainian state gas company Naftogaz has implemented a single standard for monitoring counterparties. A hotline for reporting violations has also been opened.
“The Naftogaz company has developed and approved by the supervisory board a counterparty control standard. We have implemented a unified approach, a transparent rating system and, as a result, three risk zones: green, yellow and red”announced the Director of Ethics and Compliance of Naftogaz of Ukraine Yevhen Kalinin at the conference “Day of suppliers of state-owned enterprises of the oil and gas industry: plans for 2025”.
If, according to the results of the inspection, the counterparty is placed in the green zone, Naftogaz does not make any claims against it. If the counterparty is placed in the yellow zone, this means the supplier will be under surveillance. If the counterparty is placed in the red zone, cooperation is excluded due to existing non-compliance risks.
“We also have a developed channel that allows reporting possible corruption violations or violations in the area of procurement. This is a telephone helpline”, a noté Yevhen Kalinine.
The helpline is operated by an independent company. According to Yevhen Kalinin, this approach would ensure that user complaints will be investigated quickly. He pointed out that helpline operators receive around 250 calls per month, of which around 20% are relevant.
As an example, Yevhen Kalinin cited the investigation of the compliance department into the purchase of one of the Naftogaz subsidiaries, where it was possible to avoid losses in the amount of more than 5 million euros in 2023. This file was handed over to the police.
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