UNIAN
Ukraine plans to open up access to its gas storage facilities to international traders in a way designed to ensure there is financing for the pumping of natural gas for Ukraine’s heating season in 2015 and 2016, the country’s energy minister has said.
Ukrainian Minister of Energy and Coal Industry Volodymyr Demchyshyn announced the plans during the International Conference in support of reforms in Ukraine, an UNIAN correspondent has reported.
"We intend to open our storage facilities to international traders, which could help raise funds," Demchyshyn said, adding that the negotiations with the European Bank for Reconstruction and Development (EBRD) and International Finance Corporation (IFC) are under way regarding the provision of loans for the purchase of gas.
"There is progress with the EBRD and IFC, while at the same time we are considering other options," Demchyshyn said.
As UNIAN reported earlier, since March 2015 Ukraine has been in talks with the EBRD, the World Bank and other international financial institutions regarding the provision of loans required to pump gas into Ukraine’s underground storage facilities during the summer season, thus ensuring there is the necessary volume of the commodity for the next heating season, as well as ensuring uninterrupted transit of Russian gas to the EU.
It is estimated that Ukraine needs about $1.5 billion to secure for necessary gas reserves in its underground gas storage facilities for the next heating season.
According to Demchyshyn, Ukraine needs to accumulate 19 billion cubic meters of gas in its underground storage facilities by the next heating season.