Ukraine's largest gas producer to raise US$52 mln in loan from EBRD – finance minister

Ukraine's Finance Minister Oksana Markarova says the Cabinet of Ministers has approved raising US$52 million in loan from the European Bank for Reconstruction and Development (EBRD) for Ukraine's largest natural gas producer Ukrgazvydobuvannya.

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"Yesterday, the Cabinet of Ministers backed the Finance Ministry's proposal to approve a $52 million loan from the European Bank for Reconstruction and Development for Ukrgazvydobuvannya to boost gas production (the purchase of 10 well workover rigs and upgrading of turbines). Rate: monthly EURIBOR + 1% per annum; one-time fee: 1% of the amount of tranches; and a 0.5% commitment fee," she wrote on Facebook on August 21.

As UNIAN reported earlier, Ukrgazvydobuvannya in 2018 boosted natural gas production by 1.6% from 2017, to 15.496 bcm.

UNIAN memo. Ukrgazvydobuvannya is Ukraine's largest gas producer, holding a 70% share in the total volume of the country's hydrocarbon production. It is wholly owned by national oil and gas holding Naftogaz of Ukraine.