Ukraine to raise $1 bln under state guarantees to create strategic energy reserves - PM

09:43, 16.02.2015 1 min read

The Ukrainian government intends to establish a reserve of gas or fuel oil worth $1 billion to provide the country with heat in the winter of 2015-2016, Ukrainian Prime Minister Arseniy Yatseniuk has said.

"The government has decided to create a reserve fund of natural gas and/or fuel oil (this will depend on market conditions) worth $1 billion by attracting credits under state guarantees," Yatseniuk said opening a government meeting on Saturday.

"The winter is nearly at an end, to live through the next winter the government is already thinking how to ensure the energy security of the state. $1 billion is the amount that will be used to purchase a strategic reserve of natural gas and fuel oil," the prime minister said.