Naftogaz uses EBRD loan to buy 1.8 bcm of gas from six suppliers at $185 per 1,000 cu m

13:28, 07.12.2016 1 min read

Naftogaz Ukrainy purchased 1.8 billion cubic meters (bcm) of natural gas in August-October 2016 from six suppliers in the second round of utilization of the Gas Purchase Renewable Credit Facility funds provided by the European Bank for Reconstruction and Development (EBRD).

The average price of the contracts at the entry point was $185 per 1,000 cubic meters. Thirty contracts totaling $334 million were concluded, including $300 million from the credit facility and $34 million of Naftogaz's own funds.

All six suppliers - Axpo Trading AG, CEZ, a.s., Engie SA, Eni Trading & Shipping S.p.A., RWE Supply & Trading GmbH and Uniper Global Commodities SE - were identified as eligible by the EBRD prequalification procedure concluded in July 2016, Naftogaz said.

In December 2015-March 2016, Naftogaz procured 1.7 bcm from five suppliers utilizing the EBRD credit facility.