Kiev in the off-season can raise up to $1 billion on purchasing gas from Europe

KYIV, 29 Jan. Ukraine has an opportunity now to raise up to $ 1 billion on purchasing gas from Europe in the off-season, when fuel is available at the lowest prices, said the head of the Ministry of Finance of Ukraine Natalie Jaresko, speaking Friday in Parliament.

“Because of this (adopted recently by the Parliament the law – ed.) we will be able to sign an agreement on a five-year renewable guarantee from the world Bank for 500 million dollars. Together with the previously signed agreement with EBRD for $ 300 million and the agreement with the International Finance Corporation for another $ 200 million now we have the opportunity to draw from international financial organizations financial resources in the amount of up to $ 1 billion for the purchase of natural gas from European suppliers,” said Jaresko.

According to her, therefore, Ukraine can buy gas in Europe in the off-season at the lowest prices.

The Verkhovna Rada of Ukraine adopted on Tuesday, January 26, in the law that allows the government to provide state guarantees of execution of “Naftogaz” payment obligations are imported from European suppliers of natural gas. Kiev is not currently buys Russian gas, and the authorities expressed the view that the country will be able to pass the winter without current purchases from Gazprom thanks to the accumulated reserves in underground gas storages (UGS) and the procurement of fuel in Europe.