Business news from Ukraine

UKRAINE DOUBLES GAS STOCKS IN UNDERGROUND GAS STORAGE FACILITIES

Ukraine from April 4 to August 17, 2019 doubled its natural gas reserves in underground gas storage facilities (UGS), to 17.169 billion cubic meters (bcm), according to recent data from JSC Ukrtransgaz.
According to the calculations of the Interfax-Ukraine agency, this volume exceeds the inventory indicator on August 17, 2018 by 24.5%, on August 17, 2017 by 22.2%.
The storage facilities of the country on August 1-17 were replenished by 1.318 billion cubic meters of gas, which is equal to the average daily injection of 77.5 million cubic meters, while in July the figure was 74.4 million cubic meters per day, in June some 71.9 million cubic meters/day, and in May some 62.9 million cubic meters/day.
Underground gas storage facilities in Ukraine, in particular, on August 17 of this year were replenished by 74.36 million cubic meters with imports standing at 66.91 million cubic meters and domestic production of 54.8 million cubic meters.
Earlier, CEO of Naftogaz Ukrainy Andriy Kobolev said that the company intends to pump additional volumes of gas into the Ukrainian underground storage facilities in the event that Russia’s Gazprom ceases gas transit through the country after 2019. Ukraine plans to enter the next heating season with the reserves of about 20 billion cubic meters.

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ALLSEEDS GROUP PLANS TO INCREASE CAPACITY OF VEGETABLE OIL STORAGE FACILITIES

Allseeds group of companies is finalizing the construction of vegetable oil tanks at its terminal in Yuzhny seaport (Odesa region) in order to increase their storage capacity to 132,000 tonnes. At the loading rate of 1,300 tonnes of oil per hour, a 50,000 tonnes tanker will be full in just 40 hours, according to the group’s press release.
Allseeds in the nearest future is also planning to increase the total storage capacity of its vegetable oil terminal up to 200,000 tonnes.
According to the information on the group’s website, the storage capacity of its vegetable oil terminal is 42,000 tonnes.
Allseeds Group was founded in 2010.

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INTERNATIONAL FINANCE CORPORATION MAY BUY GRAIN STORAGE FACILITIES IN UKRAINE

The World Bank Group’s International Finance Corporation (IFC) may acquire three grain storage facilities from Mriya Agro Holding in Ternopil region as part of debt restructuring.
IFC requested respective permits for assets owned by private enterprise Noriia Zakhid, Black Bryony Holdings LLC and Elagri-Derenivka LLC, the Antimonopoly Committee of Ukraine has said.
As reported, Mriya and IFC in May 2017 agreed on the terms of restructuring of the holding’s debt. The parties agreed to split the debt into a secured and unsecured part. They also stipulated terms for restructuring the secured part of the debt. Mriya’s unsecured debt to IFC will be restructured on common conditions for all unsecured creditors.
Mriya’s total debt is $1.087 billion, of which $46 million is loans for working capital, $7 million for leasing of agricultural machinery, $130 million is secured loans, and $904 million is unsecured loans.
After the restructuring, the amount of secured loans will be reduced to $62 million, unsecured ones to $ 213 million.
Mriya is a vertically integrated agro-industrial holding founded by Ivan Huta in 1992. Today, its land bank is 165,000 ha in Ternopil, Khmelnytsky, Ivano-Frankivsk, Chernivtsi, Lviv and Rivne regions. The capacity of its grain storage facilities is estimated at 380,000 tonnes.

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