Serhii Koretskyi has moved from his position as CEO of Naftogaz to become the nation’s latest Prime Minister,but what makes him the right candidate?
In what is perhaps one of the most significant energy sector moves in recent years, Serhii Koretskyi has left his post as CEO of Ukraine’s state energy company, Naftogaz, to become the country’s latest wartime Prime Minister.
He was confirmed as PM by the Ukrainian parliament on 16 July, after being nominated for the role by President Volodymyr Zelensky.
But while his career as an energy sector entrepreneur has been filled with impressive achievements, his appointment has been described as an unusual one given that he has no experience in establishment politics.
So, why exactly has Serhii been selected to lead Ukraine’s government, especially at such a difficult time in its war against Russia?
Serhii Koretskyi’s resumé
For just over a year Serhii ran Naftogaz, Ukraine’s state oil and gas company, steering it through one of the most punishing periods in its history.
He took charge in May 2025 at a moment when the company’s gas reserves had sunk to historic lows, the result of previous management failing to secure imports.
Under his leadership, Naftogaz rebuilt those reserves to more than 13 billion cubic metres, while he raised almost US$1bn from the company’s own resources.
He also secured US$1.79bn in financing from the European Bank for Reconstruction and Development, the European Investment Bank and state-owned banks.
Serhii’s tenure at Naftogaz was a defensive one. Russian strikes on gas production infrastructure were a frequent occurrence, meaning the government was rarely able to hit its domestic output targets.
Even so, he became a familiar face at international gatherings, representing Ukraine’s energy sector at the NATO summit and the Ukraine Recovery Conference in Poland.
At the latter, he helped secure a dozen agreements aimed at strengthening the country’s energy resilience.
In many ways, Serhii was already fulfilling the role of a politician in all but name. His accomplishments in this capacity contributed to the glowing reputation that has seen him ascend to PM.
Keeping the lights on
Still, this does not answer the question of why President Zelensky chose to nominate Serhii, a political novice, for the position of Prime Minister.
Zelensky has been direct about his rationale.
“The priorities are clear – preparing for winter,” he said just before Serhii’s appointment. “Serhii Koretskyi is surely the most prepared candidate for the post of Prime Minister of Ukraine.”
Wartime winters are cruel and dangerous. Keeping homes heated over the coldest months will be hugely important in Ukraine’s fight. The hope is that Serhii’s nous in this area will pay dividends.
That said, his purview must now extend far beyond fuel. It will encompass every part of Ukraine’s war effort, from defence production, to ensuring economic stability, to managing international aid.
But with winter around the corner and Ukraine’s grid still under threat, his experience keeping the lights on may prove his most valuable qualification of all.
Speaking in Kyiv recently, Serhii acknowledged that he has a huge task on his hands to avoid a repeat of last year’s struggles.
“I am fully aware that this winter could be even more difficult,” he explained. “That is why we must be united and resolute in order to protect people and keep the state’s critical systems running.”
