The national joint-stock company Naftogaz Ukrayiny plans to start purchasing gas from the EU with the help of an EBRD loan. The first purchases may take place as early as September this year.
This was reported by RBC-Ukraine with reference to the head of the NJSC, Oleksiy Chernyshov.
According to the sources, the purchases will be made at a customs warehouse. The gas will be paid for and pumped into Ukraine's underground storage facilities.
However, Naftogaz will not pay VAT on the goods until they are cleared through customs. As long as the goods are in the customs warehouse mode, the NJSC will not be able to use them.
The amount of gas to be purchased is currently unknown, but it is known that the EBRD loan is worth EUR 200 million. Given that the price of gas has risen to around $450 since the beginning of summer, the volume of purchases could be up to 450 million cubic metres.
However, the volume of purchases could be higher, given that Naftogaz has funds other than the loan. According to sources, the purchase could be up to 600 million cubic metres.
In addition, until the goods are cleared through customs, the transaction will not be considered an import. Thus, Naftogaz intends to stockpile gas that can be promptly cleared and used if necessary.
It should be noted that gas can be stored in a customs warehouse for up to 3 years.
In a commentary to RBC-Ukraine, Chernyshov noted that the purchase of gas from the EU is planned under an emergency credit line. He also added that the purchase became possible right now because the EBRD loan of €200 million was confirmed only recently.
‘This is not about gas imports, but about the purchase of natural gas at the expense of the EBRD, which will be stored in the customs warehouse mode and used exclusively in case of emergencies and only for business needs,’ the NJSC said.
In addition, the NJSC noted that the price per cubic metre of this gas is a commercial secret and differs from the TTF.
Back in December, Chernyshov said that Naftogaz had no plans to import gas. However, he noted that if such a need arose, the NJSC would find the necessary funds.