Business

Naftogaz seeks $60mln loan from Russian bank to pay for gas

19:30 26/05/2006

KIEV, May 26 (RIA Novosti) - Naftogaz, Ukraine's national oil and gas company, is hoping to secure a $60 million loan from a leading Russian bank to pay for natural gas exports, a source in the country's fuel and energy ministry said Friday.

"The fuel and energy ministry approved a credit agreement on securing a $60 million credit from Alfa Bank at an interest rate of 8.25%," the source said.

Alfa Bank declined to comment on the matter.

Naftogaz said last week that its debt to trading company Rosukrenergo for natural gas exceeded $400 million, but it would repay the debt as soon as Ukraine received payment for Russian gas transit.

Supplies of gas to Ukraine are now handled by Rosukrenergo under a deal to end a bitter price row between the former Soviet neighbors early this year.

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Naftogaz seeks $60mln loan from Russian bank to pay for gas

19:30 26/05/2006 Naftogaz, Ukraine's national oil and gas company, is hoping to secure a $60 million loan from a leading Russian bank to pay for natural gas exports, a source in the country's fuel and energy ministry said Friday.>>

Other news of the day