Energocom has repaid €35 million of the first tranche of the EBRD loan for gas procurement
SA Energocom has returned €35 million of the first tranche of the loan it took from the European Bank for Reconstruction and Development (EBRD) last year, which it was obliged to repay by 1 May. The first tranche of €100 million is expected to be paid in full on 1 July, the company said in a press release.
The loan from the EBRD was used between 17 October 2022 and 10 January 2023 to diversify the sources of natural gas purchases and create strategic stocks, which did not exist until last autumn. These purchases, in two tranches, were planned to prevent emergency situations, as the whole of Europe was preparing for the grim scenario - of gas being cut off by Russian Gazprom.
Energocom also reported that more than 300 million cubic metres of gas were purchased in 130 rounds of tenders under EBRD rules, with the participation of observers from the legal institutions.
The loan from the EBRD is a revolving loan for three years.
