Ukraine needs to find money to buy up to 6 bcm for heating season – Minister Demchyshyn

14:42, 03.08.2015 1 min read

Ukraine needs to buy from five to six billion cubic meters of natural gas to prepare for the upcoming heating season and the search for funds is under way, Energy and Coal Industry of Ukraine Minister Volodymyr Demchyshyn said on Channel 112 Ukraine on Saturday.

"We're preparing for the heating season. We need to buy at least another 5-6 billion cubic meters of gas. Where we're going to buy is clear now. But unfortunately there is no money [for that]. And this is quite a large sum. It is more than a billion dollars. I think that at the moment it a key problem we are working to solve. We are holding talks with international financial institutions, which we hope will support us," the minister said.

There were certain leads but the negotiations have failed, he said. The minister added that the European Bank for Reconstruction and Development was ready to lend the funds, but "this process is being dragging out."