Naftogaz plans to open extra credit lines for urgent imports – Koretsky
The Naftogaz Group has secured a EUR 300 million loan from the European Investment Bank (EIB) for gas purchases. This closes the need for external financing of such purchases for this year. However, the group wants to open additional credit lines in case there is a need for urgent imports due to Russian attacks, head of the Group, Serhiy Koretsky said.
"As can be seen from public sources, intelligence data, and the actual steps of the occupiers, there will be attacks on energy infrastructure. Therefore, we must be prepared with plans A, B, and C, and we are diversifying gas supply channels and discussing new loans. However, these loans will only be used if necessary," he told reporters after signing an agreement with the EIB for EUR 300 million on Wednesday, an Energy Reform correspondent reports from the scene.
"We do not want to look for new financing at the last second in an urgent situation," the head of Naftogaz said.
He added that the company was supported in these intentions by two Ukrainian banks: Ukreximbank, with which the group has already reached an agreement, and another bank that is, according to Koretsky, in the process of signing an agreement.
The Naftogaz head noted that the company is considering the volume of possible financing and the terms for obtaining it in close cooperation with the government.
On Wednesday in Kyiv, Naftogaz and the EIB signed a twenty-year loan agreement for EUR 300 million for the purchase of gas. According to the loan's terms, the money from the sale of gas imported under the loan will be reallocated to investment projects in the long term, as these projects fall within the EIB's area of work.
Koretsky noted that with this loan, Naftogaz has completed securing external financing for gas imports this year.