Naftogaz intends to buy gas using EBRD funds in Q3 2016

09:35, 07.06.2016 1 min read

National joint-stock company Naftogaz Ukrainy seeks to buy gas using the revolving loan funds provided by the European Bank for Reconstruction and Development (EBRD) in the third quarter of 2016, Naftogaz Head Andriy Kobolev said on Channel 5 TV late on Monday.

"We plan that we will buy gas in the third quarter this year," he said.

Kobolev anticipates that competition between suppliers would be bigger compared to the previous year when 11 companies passed the qualification procedure.

"We expect that the pool of companies that would pass the qualification procedure would expand. I think that their number would reach 15. I anticipate that competition this year would be higher, as we proved that we are a high-quality contractor: we work sticking to rules, pay on time and perform liabilities undertaken," he said.

As reported, Naftogaz Ukrainy and EBRD signed a $300 million revolving loan agreement in October 2015. The funds are intended to buy gas in the EU.