Naftogaz will borrow $1.55 billion from Deutsche Bank

Now the company is in talks with the bank to get the sum of money that needed to buy Russian gas.

Naftogaz's finances have taken the brunt of steep gas price rises from Russia because it has to sell the gas on to domestic consumers at prices set by the government and usually lower than what it paid.

As for gas prices they jumped up more than 3 times comparing to their level in 2005.

The financial future of Naftogaz now depends on a bond the companyis going to issue next year, and it is already discussed with various banks, including Russian ones.

Author: Ksenia Kochneva