NJSC Naftogaz of Ukraine started reimbursing the credit to the Deutsche Bank

National joint stock company Naftogaz of Ukraine started repaying the credit, received from Deutsche Dank in the amount of $600 mln in 2005. At the present moment the Company has already repaid $54,5 mln. Credit reimbursement was possible because of the improvement of financial standing of the Company in the first six months of 2007.

In spite of constant failure of companies of heating and energy municipal sector (HES) to pay, illegal operations of oblast gas companies with money, received from the population as the payment for gas, unprecedented tax burden of the Company, NJSC Naftogaz of Ukraine provided a positive financial result in the first six months of 2007, received a net profit of more than 300 mln gryvnas, fulfilled in proper time and continues fulfilling all its obligations, including the ones, which concern the reimbursement of international credits. This year in February the Company has repaid the credit to ABN AMRO bank in the amount of $200 mln. Naftogaz of Ukraine has repaid the credits in the amount of more than $500 mln during 8 months of 2007.

The Company fulfills all of its credit commitments in 2007. At the present moment the total credit of Naftogaz of Ukraine makes up more than $2,2 bln, and interest on the credit comprises $200 mln. Besides, the Company has to carry the burden of debts of HES enterprises for the consumed natural gas. On the 28th of August the debt of municipal workers of heating and energy sector made up 842 mln gryvnas. Naftogaz of Ukraine asks some of the heads of the State and politicians to pay maximum attention to the solution of the problem of internal settlement for natural gas instead of arguing about gas problem.

Press Center NJSC Naftogaz of Ukraine

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