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Naftogaz should pay off half a billion dollars of the external credits until 2018

The biggest in Ukraine state energy holding ‘Naftogaz of Ukraine’ should pay off half a billion dollars of external credits guaranteed by the state until 2018. It was informed during the presentation of the NAK ‘Naftogaz Ukraine’ offered by the company at the meeting of the National Reform Council on 30th March. ‘In 2014 ‘Naftogaz’ paid off Eurobonds amounting 1.6 billion USD and 2.3 billion USD for gas supplied in 2013. At the same time ‘Naftogaz’ had to pay off the advance payment for gas amounting 1.5 billion USD received and used in 2010-2013. The rest has remained: external credits for the amount 1.7 billion USD out of which 0.5 billion USD are guaranteed by the state (following signed roster of pay-off till 2018) and 23 billion UAH and 0.4 million USD of the credits of Ukrainian banks (with the pay-off in 2015-2016)’, - document says.In the company there is an opinion that considering the turnover and the value of the assets credit debts of the company are relatively small. ‘Problem is in the limited possibility of refinancing of these credits, let alone the high cost of financing them on the market,’ – as said in the presentation.As informed earlier, ‘Naftogaz of Ukraine’ sustained the net loss of 17.957 billion UAH while in 2012 a company received 31.466 billion UAH of the net loss. According to the consolidated financial report of ‘Naftogaz’ for 2012-2013 perfor5med by the Deloitte and Touch?, ‘Naftogaz’ income from selling products in 2013 diminished to 75.899 billion UAH, while 105.038 billion UAH was received in 2012. Operating loss of the company in 2013 reduced to 7.336 billion UAH in comparison with 2012 that was 22.183 billion UAH. Income of ‘Naftogaz’ from the transit of Russian gas reduced to 30.315 billion UAH in comparison with 32.954 billion UAH in 2012. Income from the transit of oil in 2013 increased to 1.411 billion UAH in comparison with 1.23 billion IAH in 2013. Income from wholesale and retail of the natural gas in 2013 reduced to 36.447 billion UAH in comparison with 63.244 billion UAH in 2012.
Naftogaz should pay off half a billion dollars of the external credits until 2018
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