National joint-stock company Naftogaz Ukrainy seeks some $500 million in loans in order to pump natural gas into underground gas storage facilities in summer and autumn 2016, Naftogaz Board Chairman Andriy Kobolev told reporters in Kyiv on Thursday.
"We will repay the EBRD's loan in the near term. Then we plan to raise additional financing for pumping gas in summer," he said.
Kobolev said that until now Naftogaz raised government-secured credits for pumping gas from international financial institutions (IFIs). The company intends to gradually quit this practice and start cooperating with commercial banks.
"We want to gradually quit the guarantee of Naftogaz's loans. We've started working with commercial bank, including Goldman Sachs. We want to organize commercial financing not secured by the state. It will be a risk of Naftogaz and the company's gas will be used as collateral," he said.
Kobolev did not specify the holding's gas purchase plans.
