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Ukraine to Allocate $300Mln EBRD Loan to Buy Gas from EU - Naftogaz

© Sputnik / Sergey Starostenko / Go to the mediabankNaftogaz headquarters
Naftogaz headquarters - Sputnik International
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Naftogaz will use funds from a $300 million loan provided by the European Bank for Reconstruction and Development (EBRD) to purchase natural gas from the European Union.

A picture shows a pressure gauge at a compressor station of Ukraine's Naftogaz national oil and gas company near the northeastern Ukrainian city of Kharkiv on August 5, 2014 - Sputnik International
Naftogaz Suspends Russian Gas Purchases Until New Price Deal
KIEV (Sputnik) Ukraine's state-run energy company Naftogaz said Monday it will allocate funds from a $300 million loan provided by the European Bank for Reconstruction and Development (EBRD) to purchase natural gas from the European Union.

"The project is estimated at up to $300 million, and envisions purchases of natural gas for delivery to Ukraine via connecting pipelines from the European Union," Naftogaz said in a statement.

According to the document, Ukraine is also holding talks with the World Bank on a $500-mln loan and with the International financial Corporation (IFC) on a $250-mln loan to cover future gas purchases from Europe.

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