Ukraine's Naftogaz diversifying gas imports amid Russian attack threat

Naftogaz Group, Ukraine's largest national oil and gas company, is planning to open additional credit lines in case of a need for rapid imports due to Russian attacks.

Source: Serhii Koretskyi, CEO of Naftogaz Group, as reported by Interfax-Ukraine

Quote: "As can be seen from public statements of Russian terrorists, intelligence data, and the actual steps of the occupiers, there will be attacks on the energy infrastructure. Therefore, we must be ready with Plans A, B and C.

That is why we are diversifying gas supply channels and holding dialogue on new loans. But their use will be on demand, so that we can take loans if necessary. We do not want to urgently look for new financing at the last second."

Details: He added that two Ukrainian banks support the company's intentions – Ukreximbank, with which the company has already announced agreements, and another bank that, according to Koretskyi, is in the process of signing a deal.

He noted that the possible financing volume and conditions are being considered by the company in close cooperation with the government.

Background:

• Naftogaz Group has signed a €300 million loan agreement with the European Investment Bank (EIB) for gas purchases to build long-term reserves.
• Koretskyi said that Naftogaz has fulfilled 95-97% of its gas accumulation plan before the start of the heating season.

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