ERU Trading LLC, the wholly-owned Ukrainian subsidiary of the ERU Corporation (USA) participated in the tender on 28th November for supply to the Ukrainian State-owned pipeline company, UkraTransGaz (UTG).
ERU Corporation and its Ukrainian subsidiary ERU Trading have qualified for and purchased a 20-year, $38 million Political Risk Insurance policy from the Overseas Private Investment Corporation (OPIC). The policy insures ERU Corporation and its subsidiaries from expropriation, denial of justice, and breach of contract risks in Ukraine. OPIC is a United States Government Agency and its obligation under this contract is secured by the pledge of the full faith and credit of the United States of America
ERU Management, a USA subsidiary of ERU Group, will deliver up to 60 million cubic meters of natural gas per month to Odessa Port Plant and will serve as an off-taker for ammonia and urea. Energy Resources of Ukraine has committed over $20 million in credit support arrangements to restart the operations of the plant by financing the deliveries of natural gas in March.
ERU TRADING (subsidiary of ENERGY RESOURCES OF UKRAINE) in cooperation with PGNiG (Polish Oil and Gas Company) state controlled oil and natural gas company have begun deliveries of natural gas from Poland into Ukraine.