ERU signed a loan agreement with EBRD

ERU and EBRD signed a two year committed loan agreement for €10 mln to finance gas trading operations related to the usage of Ukrainian gas underground storages. This deal will support ERU in its preparation for the winter season and help to secure reasonable cost financing of additional gas in Ukrainian storages, the press service reports.

 "We are proud to be the first private company signing such a deal to finance gas in Ukrainian storages. ERU strongly believes that Ukrainian infrastructure, and storage specifically, plays an important role in securing gas supply in Eastern Europe as well as reducing price spikes not only during the winter season but also while there is planned maintenance on a main non-Ukrainian gas transit routes to Europe.  We consider this deal as a first step for wider cooperation with EBRD in energy efficiency, district heating, renewable generation and other areas. " - said Yaroslav Mudriy, Managing Partner of ERU.

Energy Resources of Ukraine (ERU) is a group of companies with foreign investments, which specializes in the implementation of projects in the Ukrainian energy sector, combines expertise formed for over 35 years of international projects implementation with deep understanding of the local market. ERU Management Services LLC is an American parent company, which is a part of the Group and carries out trading transactions.

Tags: gas, EBRD, legislation, UGSF, gas production, heating season, Gas market, investments, gas supplies, energy sector

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