This was emphasized by Naftohaz’s head Serhiy Koretskyy during a meeting with a mission of the International Monetary Fund in Kiev. The press service of the Ukrainian operator notes that the parties discussed in detail the preparation for the heating season, particularly emphasizing the need to continue supporting international financial institutions to import additional volumes of gas and create sufficient fuel reserves for the winter period.
In mid-August, Naftohaz and the European Bank for Reconstruction and Development signed an agreement on a EUR 500 million revolving loan for gas purchases. For the first time, such a loan was issued under the guarantees of the European Commission, so the Ukrainian government’s guarantee was not required.
However, Ukraine still does not have enough money to form sufficient gas reserves for the winter period. Because of this, in August, Naftohaz reduced gas imports from the EU by 20 percent, despite a drop in prices on the European market.
Experts estimate that in order to ensure a stable heating season, Ukraine needs to pump at least 10 billion cubic meters of gas into storage facilities, which can then be lifted for use (there is always a part of gas in storage facilities that technically cannot be pumped out – editor’s note). Kiev needs to find about 1.4 billion euros more to purchase the missing 3.5 billion cubic meters.
