Over 10 bids have been submitted for participation in a tender to supply gas under the loan provided by the European Bank for Reconstruction and Development (EBRD), Board Chairman of national joint-stock company Naftogaz Ukrainy Andriy Kobolev said in Kyiv on Tuesday.

"There are many bids, over 10," he said.

Kobolev added that only companies with shares listed on exchanges can participate in the tender.

He said it is unlikely that Russia's Gazprom, which is eligible to participate, will take part in the tender.

"I don’t that that they will participate [in the tender]," Kobolev said.

As reported, Naftogaz Ukrainy on October 23 signed an agreement to issue a loan of $300 million to finance the purchase of gas with the EBRD.

The loan funds will be used to buy around 1 billion cubic meters of gas on the western border of Ukraine.

The EBRD's loan is a renewable three-year loan. Naftogaz can return and re-borrow funds within the provided sum to finance advance payments for gas.

Naftogaz said that during the preliminary qualification process, many international suppliers expressed their interest in supplying gas to Ukraine under the EBRD conditions. Gas will be supplied on the basis of EFET standardized contracts.

According to Interfax-Ukraine's information, the credit rate is 1.5% per annum.