: :inin Kyiv (EET)

Naftogaz looking for money to buy gas for next winter

Ukrainian oil and gas giant, NJSC Naftogaz`s Director for Business Development Yuriy Vitrenko says that his company is looking for money to buy natural gas for the next heating season.

”We`re working jointly with leading global investment banking firm Goldman Sachs, OPIC (the Overseas Private Investment Corporation is the U.S. government`s development finance institution that provides investors with financing, political risk insurance, and support for private equity funds), and the International Finance Corporation (part of the World Bank) to raise investment to finance gas purchases for the next winter period,”

Vitrenko wrote on Facebook on Tuesday.

”This project is important to us as a step to get access to international financial markets,” he added.

OPIC reported in turn that underground storage facilities located in the west of Ukraine are engaged in the project to raise investment in natural gas shipments.

As UaPosition reported earlier, the European Bank for Reconstruction and Development in September 2015 lent $300 million to Naftogaz for gas purchases from European companies.
The Ukrainian company used the funds to contract 1.7 billion cubic meters of gas from five European companies until March 2016.


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