Daily Archives: Sep 30, 2015

A $300m loan to help Ukraine fill its gas storage facilities before winter has today been approved by the EBRD’s board of directors.

The loan will enable Naftogaz, the state-owned oil and gas company, to purchase over 1bn cubic metres of gas (bcm) and so support Ukraine in reaching its target of having 19 bcm of gas in storage. It will also help the country diversify its sources of gas supply by financing purchases from its interconnections with Europe through the so-called reverse flow.

What is more, it is crucial for the wider Europe: a stronger energy security situation in Ukraine, which is still a key transit country, especially for south-eastern Europe, helps to ease a number of European energy security concerns. Read more

“Europe is being overrun by millions of people. We are facing a real danger. Those who are besieged cannot take in anyone. Hungary and Europe as a whole are in danger!”

This is how Viktor Orban, Hungary’s prime minister, announced a ‘state of war’ in Budapest on September 21. Today, he will deliver a similar message to the UN General Assembly in New York. Read more