12:45 29.01.2021

Naftogaz plans to buy gas from EU for EUR 80.4 mln using EBRD funds

1 min read
Naftogaz plans to buy gas from EU for EUR 80.4 mln using EBRD funds

NJSC Naftogaz Ukrainy plans to buy natural gas for supplies to Ukraine through an interconnector with the European Union for EUR 80.4 million, raised from the European Bank for Reconstruction and Development (EBRD) as part of the eurobonds' placement in 2019.

According to the company, the contracts financed by the EBRD's loans are governed by the bank's procurement policies and rules, and are based on standard procedures and practices for the procurement of natural gas in the EU countries.

As reported, in July 2019 Naftogaz placed three-year eurobonds for $335 million and five-year eurobonds for EUR 600 million. The yield of the dollar issue was 7.375%, the yield of the issue in euros was 7.125%. The EBRD acted as a major buyer of the tranche in euros (acquired one fifth).

In 2020, the EBRD listed 17 companies that received the right to participate in tenders for the purchase of natural gas of Naftogaz Ukrainy.

Naftogaz Ukrainy unites the largest oil and gas companies in the country. The group is a monopoly for the storage of natural gas in underground storage facilities and the transportation of oil by pipeline throughout the country.

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