The completion of the operation to defer payments on 2024 eurobonds of NJSC Naftogaz Ukrainy, the major holder of which is the European Bank for Reconstruction and Development (EBRD), and the execution of the necessary documents by the Ministry of Finance allows counting on receiving funds within the EBRD loan for EUR 300 million approved back in June in the near future, head of the board Yuriy Vitrenko said.

"There was a delay with the Ministry of Finance: the signing of a guarantee agreement was delayed for two months. But, as far as I understand, it has already been signed, the decision has been made. We expect a drawdown in the near future," he told Interfax-Ukraine on the sidelines of the 17th annual meeting YES, held by the Victor Pinchuk Foundation in Kyiv at the end of last week.

In mid-June, the EBRD announced a decision to allocate EUR300 million to Naftogaz for the purchase of gas, of which EUR 50 million should have been allocated urgently. The EBRD guarantees 66% (EUR 200 million) of the total loan, which is also backed by a Ukrainian government guarantee. After an initial payment of EUR 50 million, donor guarantees will cover the next EUR 100 million and 66% of the final EUR150 million.

Vitrenko also noted that in order to purchase imported gas, the company needs proceeds from a special fund created by the government, which are not yet available.

Naftogaz will be able to import some volumes of gas if they are needed, but the price of (imported) gas is $2,000-2,500 (per 1,000 cubic meters), and we sell at less than $200 and still do not receive funds in full. There is a law that provides that the state compensates for this difference in tariffs, but for this it must attract funds to a special fund to cover this difference from the budget, then we will be able to import more gas for our customers," the expert said.