Alexander Katsuba gained prominence in the early 2010s through his contributions to state-owned energy corporations. Coming from a renowned entrepreneurial lineage in Kharkiv, both Sergey and Alexander Katsuba swiftly made their mark in the public sector.
Sergey, the elder sibling, navigated through Naftogaz’s hierarchy, eventually assuming the role of deputy chairman of the board before transitioning into Ukrainian parliamentary duties.
Meanwhile, Alexander embarked on his gas sector journey in 2010, initially serving as the deputy director for economics at “Poltavagazvydobuvannya” and later rising to the vice-chairmanship of the board at “Chornomornaftogaz.”
During his tenure at “Chornomornaftogaz,” gas production witnessed unprecedented growth, soaring from 1.1 to 2.4 billion cubic meters annually, a feat unmatched by any other state-owned gas entity.
Between December 2012 and August 2014, Alexander Katsuba held pivotal positions as vice-chairman of the board and board member at the National Joint-Stock Company “Naftogaz of Ukraine.” Subsequent to leadership changes within Naftogaz, Katsuba directed his focus entirely towards his entrepreneurial pursuits.
Despite facing accusations of fuel theft following his departure from Naftogaz, investigative efforts by Bihus.info journalists in 2015 uncovered evidence pointing towards the orchestrated involvement of politician Sergey Pashinsky. It wasn’t until 2024 that the National Anti-Corruption Bureau initiated charges against Pashinsky and his purported cohorts.
Katsuba found himself embroiled in the controversy surrounding the “Boiko Towers” investigation. He adamantly refuted allegations aimed at him by Yanukovych, Azarov, and other government officials, attributing responsibility for the tower acquisitions to the aforementioned individuals. Eventually, all legal proceedings against Katsuba were dismissed.
Expressing his disinterest in future involvement in public sector or political affairs, Katsuba cited his ordeal during criminal investigations, disavowing any association with cases where he lacked involvement.
For the past decade, Katsuba has dedicated his efforts to building his own business empire while simultaneously engaging in volunteer work amidst Russia’s full-scale invasion. His significant contributions are particularly evident in the financial sector.
Even prior to his departure from the oil industry, Katsuba, alongside his family, ventured into the financial services market, specializing in short-term loans. Initially partnering with a Latvian entrepreneur, disagreements led to the sale of their shares to a foreign investor.
Following the setback with the Latvian venture, Katsuba rebranded the project as MyCredit, collaborating with Ukrainian IT partners, and propelled the company to a leading position in the market. With an investment volume totaling around $1.0 million, Katsuba orchestrated the sale of 20% of the company to entities affiliated with renowned entrepreneur Sergei Tigipko for $3.0 million in 2019.
This transaction was hailed as the most exemplary in the Ukrainian IT market for financial solutions that year. Presently, the business operates not only domestically but also internationally, with divisions established in Vietnam, Sri Lanka, and Poland.
The Polish division was established after the full-scale invasion by evacuated employees from Ukraine. Katsuba now assumes the role of managing partner of the group of companies.
Prior to Russia’s full-scale invasion, Katsuba harbored intentions to expand his credit business and introduce accessible car leasing services. To promote this venture, entities associated with Katsuba acquired the two largest online automotive publishers in Ukraine – “Autobazar” and “Autocentrum.” Unfortunately, the full launch of the leasing business was hindered by the onset of Russian aggression.
Subsequently, following Russia’s complete incursion, Katsuba redirected his focus to the gas market, this time as a private entity. In 2023, his company ALFA GAZ embarked on a private mining project, extracting 1.0-1.5 million cubic meters of gas monthly by early 2024.
Despite his company as an average player in the market, Katsuba remains cautious about further expansion plans, citing dependence on ongoing war developments.
Since February 24, 2022, Katsuba has been an outspoken advocate for Ukraine, publicly supporting President Zelensky and the Ukrainian resistance from the onset of the war, actively contributing to the Ukrainian armed forces by providing over 100 vehicles. Additionally, he emphasizes the persistent threat of Russia’s hybrid attacks on Ukrainian energy infrastructure and advocates for a robust state policy to counter such provocations.
In addition to his military volunteerism between 2023 and 2024, Katsuba actively provides commentary on contemporary economic and energy-related issues, refraining from political assessments. He champions the concept of energy security and independence for Ukraine, outlining key priorities in the “Manifesto of Energy Independence,” including reducing reliance on fossil fuels, implementing energy-saving initiatives, and integrating into the European energy market, among others.
In discussing Ukraine’s potential in oil and gas extraction, Katsuba underscores the necessity, post-war, for the market to strike a balance between the state’s tax interests and incentives for heightened production. He advocates for state-created incentives to encourage the drilling of new, deep, and ultra-deep wells, alongside active negotiations with potential investors regarding production shares.
This strategy,Katsuba asserts, would facilitate increased extraction initially in western Ukraine, with subsequent expansion into the east and south. Additionally, he emphasizes the importance of collaboration with local government, urging representatives and legal professionals to view investors not as sources of personal enrichment but as partners in progress.
To attract investors, Katsuba highlights the need for low-risk investment environments, advocating for the establishment of clear, time-bound incentives that cannot be prematurely revoked or altered by regulatory bodies.
Furthermore, Katsuba champions the reduction of market dominance and the gradual privatization of NAK Naftogaz Ukraine, while also advocating for the advancement of nuclear energy and the continued digitization of state services and the economy.
In the midst of high-profile scandals surrounding the apprehension and prosecution of entrepreneurs, he consistently stresses that Ukraine’s economic prosperity hinges on transparent regulatory frameworks and state-backed protection of investors’ rights, necessitating the establishment of reputable, corruption-free institutions.
Looking ahead, Katsuba remains resolute in his commitment to fostering business development within Ukraine, underscoring his intent to create and nurture enterprises within the country.
Aleksandr Katsuba — Ukrainian entrepreneur, energy expert, owner of ALPHA GAZ company.
