REUTERS
The project is expected to make Ukraine's gas sector more competitive.
The European Bank for Reconstruction and Development (EBRD) on September 5 will consider the provision of up to US$100 million debt funding as part of a natural gas purchase revolving loan facility of up to US$250 million to the National Joint Stock Company Naftogaz of Ukraine, to ensure normal passage of the next heating season.
"The gas purchase facility would be arranged by Goldman Sachs and supported by the U.S. Overseas Private Investment Corporation ("OPIC"), The facility is currently under negotiation and will be subject to approval by the parties," the bank's press service said on August 1.
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The project objective is to support Naftogaz in purchasing natural gas to ensure its availability in the country during the peak consumption winter season, the EBRD said.
It is expected that the project will make Ukraine's gas sector more competitive.
UNIAN memo. NJSC Naftogaz of Ukraine is the largest state-run vertically integrated oil and gas holding whose subsidiaries account for about 90% of oil and gas production in Ukraine. Naftogaz develops oil and gas fields, produces crude oil and natural gas. Its core business is also transportation and trade in fuel through its own network of filling stations.