Source Pravda.Ru

Ukrainian oil and gas giant to transfer Eurobonds to Gazprom

The Ukrainian state oil and gas company Neftegaz Ukrainy plans to transfer its $1.4-billion Eurobonds to the Russian gas giant Gazprom by July 1, 2003, Neftegaz Ukrainy CEO Yury Boiko told reporters. Last year, Neftegaz Ukrainy issued $1.4 billion worth of Eurobonds to pay off its debts to Gazprom. Gazprom is expected to supply 26 billion cubic meters of gas as payment for gas transit via Ukrainian territory this year, the Russia Journal reported.

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