22 April 2004 06:49
Naftohaz Ukrayiny, Gazprom agree on Eurobond transfer scheme
KYIV. April 22 (Interfax-Ukraine) - Ukrainian national oil and gas concern Naftohaz Ukrayiny and Russia's
Gazprom have agreed to a scheme for transferring to the Russian gas giant $1.4 billion in Eurobonds, issued by Naftohaz
Ukrayiny as part of a debt restructuring program.
Naftohaz Ukrayiny CEO Yury Boiko told journalists that the approved scheme resolves the problem of Gazprom being hit
with a tax bill for about $650 million and gives Ukraine a significant discount for paying its debt.
"Today details of the process for handing over the bonds to close
the gas debt are being agreed on. The process has been carefully
Naftohaz Ukrayiny plans to pay its gas debt to Gazprom in full by the end of 2004. The Russian side estimated the
debt at $1.62 billion.
Gazprom spokesman Sergei Kupriyanov, in an Interview with
Interfax, confirmed that the two companies were closer to a debt
settlement and that details of the settlement scheme were being
discussed currently but said it was too early to talk about a
"The debt is to be canceled within two days after the decision, and the entire procedure fully conforms to the
intergovernmental agreement signed in 2001," Boiko said.
explored and organized. There are no fundamental problems there."
Boiko said a Naftohaz Ukrayiny delegation had been holding talks with Gazprom in Moscow for nearly two weeks and on
Wednesday a Gazprom delegation arrived in Kyiv.
definitive settlement. [UA EUROPE EEU EMRG ELG TRD] as aw
[Interfax] |
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