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Naftogaz Seals $225MM Loans to Buy Gas for Winter
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Ukrainian state-owned Naftogaz has signed a loan agreement with state-owned Ukrgasbank worth 4.7 billion hryvnias (approximately €110 million) for the purchase of natural gas. Chairman of the Board of Directors Serhiy Koretsky announced the news, specifying that the funds are already being used to increase reserves in underground storage facilities in preparation for winter. "The country must have sufficient energy resources for the cold season,…
This was stated in Ether Espreso by the Chairman of the Council of the All-Ukrainian Energy Assembly, the Minister of Fuel and Energy of Ukraine (1999, 2005-2006) Ivan Plachkov. Ukraine came out of the heating season with minimal gas reserves in storage facilities. As a rule, this gas was replenished at the expense of its own production and was sufficient for its own consumption and accumulation in storage facilities. Of course, Ukraine also bou…
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