Mykhailo Kravchenko has been appointed as the new chairman of the Board of Directors of Sarmatia International Pipeline Enterprise, in which the State Oil Company of Azerbaijan (SOCAR) is a shareholder.
Report informs, citing the company, that Kravchenko began his duties on January 1, 2025.
According to the founding agreement, the leadership of the Board of Directors in Sarmatia company is carried out according to rotation.
Kravchenko currently represents Ukraine's Ukrtransnafta Joint Stock Company on the Board of Directors. He replaced Bożena Knipfelberg in this position. Knipfelberg will continue her activities as a member of the Board of Directors in Sarmatia company.
The main stakeholders of Sarmatia International Pipeline Enterprise are SOCAR (25.32%), Georgia's Georgian Oil and Gas Corporation Ltd (16.09%), Ukrtransnafta (28.79%), Poland's Przedsiebiorstwo Eksploatacji Rurociagow Naftowych Przyjazn S.A. (28.79%), and Lithuania's AB Klaipedos Nafta (1%).
The company ensures the delivery of Caspian region's energy resources to European markets.