"The cooperation with the EBRD under this framework is vital for us for many reasons. The facility has not only enabled us to finance the purchase of gas to ensure security of supply during the heating season. It gave the much-needed impetus for the ongoing corporate governance reform of state-owned enterprises in Ukraine. The EBRD also monitors the introduction of new standards for accountability and transparency, as well as issues related to environmental and social responsibility at Naftogaz," said Andriy Kobolyev, CEO of Naftogaz of Ukraine. Within the framework of the EBRD loan, Naftogaz has purchased approximately 1.7 bcm of gas. A portion of the cost was financed by Naftogaz from its own resources. The price of this gas at the delivery point averaged at USD193/tcm. The contracts were awarded to Noble Clean Fuels Limited, Engie SA, Axpo Trading AG, E.ON Global Commodities SE and Eni trading&shipping S.p.A, based on the EBRD-controlled pre-qualification and tendering procedure.