REUTERS
Ukrainian state oil and gas company Naftogaz Ukrainy plans to attract $1.5 billion in financing to purchase gas at lower price in summer and sell it later at higher prices, Naftogaz CEO Andriy Kobolev said on Friday in Brussels at the end of a NATO-Ukraine Commission meeting.
Kobolev said there was a need to attract foreign capital to fill Ukraine’s large underground gas storage facilities with about six billion cubic meters in the summer.
"It is more or less a commercial transaction,” Kobolev said.
“We will discuss the possibility of aid provision with the European Commission. It would amount approximately to $1.5 billion at current prices."
Kobolev said he hoped the funding could be attracted from foreign banks, international institutions and companies.