The Chinese export agency has provided Naftogaz with insurance coverage of 1 billion USD, which will allow Naftogaz to attract Chinese investors to invest this amount without involving state or other guarantees. This is reported by the press service of Naftogaz.
Thus, the Chinese credit agency will guarantee Chinese investors the reliability of investments in Naftogaz, a total of 1 billion USD. At the same time, the Ukrainian company states that these investments will be directed to gas extraction in Ukraine.
“It is planned that in the first stage under the insurance cover of Sinosure, about 160 million USD will be attracted to finance the existing contracts of JSC Ukrgazvydobuvannya with Chinese corporations supplying drilling equipment and turn-key drilling operations,” Naftogaz said. The second stage of investment is still aligned with the Chinese side. Its volume should make 800 million dollars. Last year, Naftogaz attracted 140 million USD from Chinese investors to purchase 13 gas drilling rigs with a 5 year delay.