18:53 29.03.2019

Naftogaz to raise funds from intl fiscal organizations to pump gas into UGS

1 min read
Naftogaz to raise funds from intl fiscal organizations to pump gas into UGS

Naftogaz Ukrainy intends to attract funding from international financial organizations for the purchase of gas and its injection into underground gas storage facilities (UGS) in this inter-heating season, head of the company Andriy Kobolev has told Interfax-Ukraine.

At the same time, he specified neither timing of raising funds nor organizations.

"These will be international financial institutions, such as the EBRD," he said.

Kobolev added that to seek funding Naftogaz is also considering the possibility of placing eurobonds, however, "we are not making decisions yet."

As reported, at the beginning of March Kobolev stated that Naftogaz was studying the possibility of pumping additional volumes of gas into the underground gas storage facilities of Ukraine if Russia's Gazprom stops gas transit through the country after 2019.

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