12:57 08.12.2017

Naftogaz buy 1.8 bcm of gas from five European suppliers using EBRD funds in July-Sept

Naftogaz buy 1.8 bcm of gas from five European suppliers using EBRD funds in July-Sept

National joint-stsock company Naftogaz Ukrainy in July-September 2017 procured natural gas from Axpo Trading AG, CEZ a.s., Engie SA, RWE Supply & Trading GmbH and Uniper Global Commodities SE within the scope of the third round of utilization of Gas Purchase Renewable Credit Facility funds provided by the European Bank for Reconstruction and Development (EBRD), the company's press service has reported.

"Total value of 18 awarded contracts amounted to $359 million, of which $300 million were financed through the credit facility and $59 million – from Naftogaz's own funds. All five suppliers were identified as eligible by the EBRD prequalification procedure concluded in June 2017. Weighted average price of the contracts amounted to $203 per mcm at delivery point," the company said.

From December 2015 through March 2016 as part of the first round of the loan Naftogaz bought 1.7 billion cubic meters (bcm) of gas from five suppliers.

In 2015, Naftogaz received a $300 million revolving loan from the EBRD to purchase gas from European suppliers.

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