EIB to allocate EUR 37mln into gas extraction project in Ukraine

The European Investment Bank will contribute EUR 37mln facility into the project aimed at increasing natural gas extraction in the territory of Ukraine. The total worth of the project amounts to EUR 98mln comprising of mounting of new gas compressor plants and gas treatment facilities at several fields in Ukraine. During the due diligence of the project, an environmental assessment will be conducted along with the documents screening for the operations and construction of the abovementioned facilities. To remind, the EIB also mulls to provide EUR 130mln loan for still another energy company Ukrenergo to finance refurbishment project of electric substations of domestic electricity major.