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25.8 26.35
Economy 2019-11-15T04:18:02+02:00
Ukrainian news
Naftogaz Repays Debt Of USD 500 Million Guaranteed By Cabinet And World Bank

Naftogaz Repays Debt Of USD 500 Million Guaranteed By Cabinet And World Bank

Naftogaz of Ukraine, debt, Cabinet of Ministers, World Bank

The Naftogaz of Ukraine national energy company has repaid a debt of USD 500 million guaranteed by the Cabinet of Ministers and the World Bank.

Naftogaz of Ukraine announced this in a statement, the Ukrainian News Agency reports.

“Naftogaz has completed payments under the agreements for the loan of USD 500 million it received under World Bank and Ukrainian guarantees,” the company said in the statement.

Naftogaz of Ukraine’s Board Chairman Andrii Kobolev added that the company has made payments on a state-guaranteed loan of USD 3.2 billion on time and in full since 2014 and that the company’s loan debt has reduced 6.60-fold since 2014.

In addition, according to the statement, Naftogaz of Ukraine plans to increase the pumping of natural gas into underground gas storage facilities by 3 billion cubic meters in 2019, compared with 2018.

As Ukrainian News Agency earlier reported, the World Bank believes that unbundling Naftogaz of Ukraine’s gas transmission operations is critically important.

On November 30, 2016, the Cabinet of Ministers provided the World Bank state guarantee of Naftogaz of Ukraine’s obligations that arose after the International Bank for Reconstruction and Development (IBRD), which is part of the World Bank group, guaranteed a loan of USD 500 million for purchase of gas.

Naftogaz of Ukraine is the leading company in Ukraine in terms of exploration and development of oil and gas deposits, drilling, transportation, and storage of crude oil and natural gas, and supply of natural gas to consumers.

Больше новостей о: Naftogaz of Ukraine debt Cabinet of Ministers World Bank