Polish PGNiG borrowed one billion euros to buy gas when there is no supply from Russia
WARSAW, AUGUST 17 – RIA Novosti. Polish oil and gas company PGNiG is forced to take out a loan to purchase natural gas in anticipation of a warming period.
At the end of April this year, Gazprom stopped the gas supply to Poland for refusing to pay in Russian rubles. Previously, the republic received up to 10 million tons of this fuel annually from Russia.
The group’s statement states that PGNiG has “signed a loan agreement with the National Economy Bank (BGK) amounting to PLN 4.8 billion (a little over one billion euros at the current exchange rate)”.
The loan agreement has been concluded for 24 months.
It was noted that by signing the loan agreement, PGNiG benefited from the Treasury guarantee, a mechanism stipulated by the Law on Special Decisions on the Protection of Gas Fuel Consumers Depending on the Gas Market Situation.
Source: Ria
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