Ukraine plans to increase gas imports 30% - minister

MOSCOW. Oct 8 (Interfax) - Ukraine is working on increasing its capability to import gas by roughly 30%, Ukrainian media reported, citing Energy Minister Svetlana Grinchuk as saying.

"We plan to boost import capability by around 30%. It will all depend on how quickly we can restore things. The sooner we manage to put facilities back into operation the less gas we'll need to import," the media quoted Grinchuk as saying at a briefing in Kiev on Tuesday.

She said the Energy Ministry was currently in talks with all partners to ensure financing for imports.

"We've just had a meeting with G7 ambassadors, and before that meetings with colleagues and partners from various countries, as well as the European Commission. One of the topics was the need for additional gas imports. We also discussed expanding credit lines guaranteed by the European Commission and, with some countries, the possibility of providing grant-based support for gas imports," Grinchuk said.

She said the ministry was also negotiating with partners to increase the supply of energy equipment.

"We have reserves, but we see the need to build them," she said.

The Naftogaz Group at the beginning of October secured a loan of 300 million euros from the European Investment Bank (EIB) guaranteed by the European Commission for gas purchases. This closes the need for external financing of such purchases for this year. However, the group wants to open additional credit lines in case there is a need for urgent imports. Naftogaz chief Sergei Koretsky said the company was supported in these intentions by two Ukrainian banks: Ukreximbank, with which the group has already reached an agreement, and another bank that is, according to Koretsky, in the process of signing an agreement.

The group has already received a loan of 500 million euros for gas imports from the European Bank for Reconstruction and Development, also guaranteed by the European Commission.

Koretsky said that as of early October, Naftogaz had fulfilled 95%-97% of the government-approved plan for gas injection into underground gas storage facilities for the start of the heating season. Grinchuk has said Ukraine should have 13.2 billion cubic meters of gas in storage facilities by the start of the season, 4.6 billion cubic meters of it imported.