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China to Extend Valid Period of Ukrainian Oil and Gas Company Energy Field Project’s Loan to 2018

Source: Date:Sep 08,2016 Clicks:652

From Ukraine Interfax News Agency (Aug. 29) news,The $ 3.65 billion loan agreement signed between Ukraine Oil & Natural Gas Company and China National Development Bankwill be extended to December 25, 2017. The company said: The Chinese side on August 25 this year, Ukraine and the People's Republic of China Intergovernmental Committee on Trade and Economic Cooperation Sub-Committee during the meeting to make the decision. The extension of the term of the loan will allow Ukraine not to lose the opportunity to modernize its energy sector with "long-term" and cheap money, and Ukraine should agree on the use of these funds among all sectors.

In 2015, the oil and gas company submitted to the Ministry of Economic Development and Trade four investment proposals for the loan line to assess their economic efficiency and to include in the national registration list: low-income consumers private residential independent heating system retrofit project , Kiev and Lviv two thermal power plant construction projects, as well as Ukraine natural gas drilling and drilling companies to expand the purchase of natural gas drill pipe and auxiliary equipment. Ukrainian oil and natural gas company to assess low-income consumers private residential independent heating system renovation project cost of 1.7 billion US dollars in Kiev and Lviv building thermal power plant to reduce natural gas imports project for 1.3 billion US dollars of natural gas drilling company to buy natural gas to expand mining Equipment - $ 400 million.

From Ukraine Interfax News Agency (Aug. 29), news,The $ 3.65 billion loan agreement signed between Ukraine Oil & Natural Gas Company and China National Development Bankwill be extended to December 25, 2017. It is said that Chinese side made the decision on the economic and trade cooperation committee subcommittee meeting between Ukrainian and Chinese governments on August 25 this year. The extension of the term of the loan will allow Ukraine not to lose the opportunity to modernize its energy sector with "long-term" and cheap money, and Ukraine should agree on the use of these funds among all sectors.

In 2015, the oil and gas company submitted to the Ministry of Economic Development and Trade four investment proposals for the loan line to assess relevant economic efficiency and be included in the national registration list: low-income consumers private residential independent heating system retrofit project two thermal power plant construction projects in Kiev and Lviv purchase of drill pipe and auxiliary equipment to expand natural gas by Ukraine natural gas drilling and production company. Ukrainian oil and natural gas company assessed low-income consumer private residential independent heating system retrofit project at 1.7 billion US dollars, two thermal power plant construction projects in Kiev and Lviv to reduce imported natural gas at 1.3 billion US dollars, and purchase of production equipment to expand natural gas by Ukraine natural gas drilling and production company at 0.4 billion US dollars