OREANDA-NEWS. September 24, 2013. The Minister of Energy and Coal Industry has reported a bill on Amendments to Article 6 of the Law of Ukraine on the State Budget of Ukraine for 2013.

In his speech, Minister Eduard Stavytskyi stressed that the draft Law of Ukraine on Amendments to Article 6 of the Law of Ukraine on the State Budget of Ukraine for 2013 provides state guarantees for liabilities of the National Joint Stock Company Naftogaz of Ukraine to the Gazprombank OJSC (Russian Federation) on foreign loans.

Amendments to Article 6 of the Law of Ukraine on the State Budget of Ukraine for 2013 is needed, as noted by the Minister, to ensure timely and full settlements with the Gazprom OJSC for natural gas imported to Ukraine, balancing cash flows of the National Joint Stock Company Naftogaz of Ukraine and the fulfillment of obligatory payments.

"Implementation of this law will contribute to balancing cash flows of the National Joint Stock Company Naftogaz of Ukraine by continuing term the use of loan funds in total amount of \\$ 2.0 billion involved in the credit agreement with the Gazprombank Open Joint Stock Company up to 7 years, and to ensure stable and uninterrupted operation of the gas transportation system of Ukraine," Eduard Stavytskyi said.

The bill has been passed in the first reading.