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Industry: Email Alert RSS FeedEurope: UkrNaftoGaz makes placement
Global Finance, Apr 2003 by Platt, Gordon
Kiev-based UkrNaftoGaz, the national Ukrainian gas company, selected Bank of New York as depositary for its Regulation S depositary receipt program.
Ukraine is a major transporter of Russian gas to Europe through its pipeline network.The gas-transport system is Ukraine's most valuable asset.
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Gazprom, the Russian gas company, signed a 10year contract with UkrNaftoGaz in June 2002 for the transit of 110 billion cubic meters of natural gas through Ukraine. Russia and Ukraine earlier agreed on the restructuring of Ukraine's debts to Gazprom, postponing repayment for 12 years.
Copyright Global Finance Media Inc. Apr 2003
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