Naftogaz in March, to purchase in Europe more than 1 billion cubic meters of gas

"Нафтогаз" в марте закупит в Европе более 1 млрд кубов газа

Naftogaz Of Ukraine

“Naftogaz of Ukraine” allocated the first fifteen letters of credit under the credit agreement with Citi and Deutsche Bank, guaranteed by the world Bank for procurement in March in Europe, more than 1 billion cubic meters of gas. About it reports a press-service of “Naftogaz of Ukraine”.

“Letters of credit, totaling more than 220 million euros will be used for March of this year to purchase natural gas to European suppliers, selected in tender procedures of the world Bank. Gas purchases are provided for in the amount of up to 1.1 billion cubic meters of the Funds under the letters of credit suppliers will receive from creditors on the delivery of gas to Ukraine for April,” the report says.
Related news: Gazprom has allowed the rise in the price of gas exports to Europe by 10%
Naftogaz has to repay the loan over twelve months from the date of granting. The total amount of credit line, guaranteed by the world Bank, is the equivalent of $ 500 million.

It is also known that the remaining funds of the credit line will be used to purchase gas based on current market conditions.

Earlier it was reported that Russia is at a record reduced supply pressure in the inlet gas to Ukraine’s GTS.

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