National joint-stock company Naftogaz Ukrainy has announced a tender to provide unconditional and irrevocable bank counter-guarantees for the sum of $15 million or 15 million euros, according to an announcement of the state holding in the Visnyk Derzhavnykh Zakupivel bulletin.
According to the announcement, the tender bids can be submitted by Aug. 15, 2014. The bids will be opened on the same date.
The purpose of the financial service is to receive unconditional and
irrevocable bank counter-guarantees of payments on demand of foreign
banks which have a credit rating of no lower than Baa2 Moody’s or
similar from &P or Fitch to ensure the purchase and transportation
of natural gas to Ukraine via European gas transport systems via signing
the relevant agreements with natural gas suppliers and/or gas transport
system operators, in particular, Eustream (Slovakia).
The tariff for the provision and management of the service cannot
exceed 2 percent per annum of the total sum of counter-guarantees, including
tariffs of foreign banks.
Ownership rights to receive revenue under contracts, goods in turnover or funds of Naftogaz Ukrainy are used as collateral.
As reported, Naftogaz Ukrainy has bought major capacity of the
Vojany-Uzhgorod gas pipeline from the Slovak operator of the gas
transportation system, Eustream, to supply natural gas on the European
gas market-Ukraine route.
Gas supplies from Slovakia will start in September 2014. The expected
volume of supplies is around 27 million cubic meters of gas a day.
Earlier Eustream a.s., Slovakia’s gas pipeline operator, has said in a
statement it had finalized the evaluation of the Open Season procedure.
Eustream has evaluated the Open Season as successful. The results have
confirmed the market interest in gas transmission through the
Vojany-Uzhgorod pipeline in direction to Ukraine
Naftogaz Ukrainy unites the oil and gas production assets in Ukraine,
and is the country’s gas transit, underground gas storage, and oil
pipeline transportation monopoly.
