Naftogaz continues to look for money to buy imported gas, attracts UAH 3 billion loan from Oschadbank

Naftogaz Group has attracted a loan of UAH 3 billion from Oschadbank and will use it to purchase imported natural gas.

This follows from in a statement of the group, the Ukrainian News agency reports.

"The need to import additional volumes of gas is caused by massive hostile attacks on gas infrastructure facilities. We are working together with Ukrainian and international partners to attract financial and other resources to ensure a stable heating season in the face of Russian terrorist attacks. I am grateful to the Government and Oschadbank team for their support," said Serhii Koretskyi, the Chairman of the Board of the Naftogaz of Ukraine.

It is noted that cooperation between NJSC Naftogaz of Ukraine and JSC Oschadbank has been going on for more than fifteen years.

Oschadbank provides comprehensive banking services to the Naftogaz group, in particular in terms of lending and the provision of a full range of other services.

As the Ukrainian News agency earlier reported, Naftogaz previously attracted loans from state-owned PrivatBank, Ukreximbank, and Ukrgasbank.

On October 1, Naftogaz Group signed a historic loan agreement with the European Investment Bank (EIB) for EUR 300 million.

Due to russian strikes, Ukraine will have to increase gas imports by 30%.