Ukraine Concludes EBRD-funded Gas Tendering, Buys 1.7bn m³

State gas supplier Naftogaz Ukrainy has completed its competitive tendering process and contracted to buy about 1.7bn m³ of gas, financed by a $300mn loan from the European Bank of Reconstruction and Development, it said January 14. The company held 27 auctions of which 17 were valid. The gas is for delivery between December 2015 and March 2016.

The contracts were awarded to: UK Noble Clean Fuels, French Engie, Swiss Axpo Trading, German E.ON Global Commodities and Italian Eni Trading & Shipping. These companies were among 11 eligible suppliers as defined under the EBRD prequalification procedure in December 2015. The tender winners were selected on the basis of the lowest price offered. The cost of the gas including delivery to the border of Ukraine ranges from $188/'000 m³ to $211/'000 m³.

Naftogaz also purchases gas in the European markets on competitive terms on its own account.