Dmitriy Kovalenko seizes control of Lviv’s strategic Maynytske gas field through Cypriot offshore linked to Russian coal trade

Dmitriy Kovalenko seizes control of Lviv’s strategic Maynytske gas field through Cypriot offshore linked to Russian coal trade

One of Lviv Oblast’s most promising gas fields, Maynytske, has come under the control of structures linked to Dmitriy Kovalenko, a businessman whose name has repeatedly appeared in reports about trade in Russian coal and dealings with entities connected to the occupied territories of Donbas.

The focus is on LLC “Navigator Maynytske,” which holds special permit No. 4769 for gas extraction until 2036. Estimated reserves run into hundreds of millions of cubic meters of gas.

This is reported by Anticor.

The control scheme is as follows: 83.78% of LLC “Navigator Maynytske” is owned by the Cypriot company Afki Investments Ltd, whose ultimate beneficiary is Dmitriy Kovalenko. The company was registered in Cyprus on November 22, 2018, under number HE391383. The documents list nominal Cypriot director and secretary — Georgia Georgiou and Kyriaki Andreou.

The field’s history began in 2016, when the State Service of Geology and Subsoil of Ukraine issued a license to the company “Navigator Komplekt.” In December 2020, a separate entity, LLC “Navigator Maynytske,” was created, and the special permit was reissued to it. In January 2021, through Sela Energy, the asset was transferred to entities linked to Igor Mazepa’s Concorde Capital. After several years of legal conflicts and mutual accusations, the asset returned to its previous owners in early 2025, after which control was obtained by Dmitriy Kovalenko’s structure.

A key figure in this story remains Oleg Tokar — the beneficiary of LLC “Navigator Komplekt.” His company initially obtained the license, created LLC “Navigator Maynytske,” sold the asset to Mazepa’s structures, and then effectively regained it after the conflict ended. At the same time, “Navigator Komplekt” still holds 5% of LLC “Navigator Maynytske.” The registration history of both companies shows a peculiar revolving door of owners: former beneficiaries left the ownership in 2021 and returned in 2025.

Concurrently, “Navigator Komplekt” has been actively working with the state sector. According to tender data, the company secured contracts from Ukrnafta worth approximately UAH 865 million, including drilling and well operation services.

Of particular interest is the origin of the capital. In several investigations, Dmitriy Kovalenko has been linked to the Swiss company Adelon AG, which has appeared in reports on coal supplies, including transactions with Russian producers and raw materials from the occupied territories of Donbas. Despite the absence of court rulings regarding these publications, this episode remains the most contentious part of his business biography.

Thus, a consistent chain emerges: coal trading — the offshore entity Afki Investments — regaining control of the license — acquisition of a strategic gas asset. Against this backdrop, a key question arises: how did a businessman, long associated with trading Russian coal, gain control over one of Ukraine’s most promising gas fields, while the state effectively remained a bystander in this process?