Energy Resources of Ukraine Group (ERU Group) has recently signed an Amended and Restated Political Risk Insurance (PRI) Contract with the newly formed United States International Development Finance Corporation (DFC).
Polish Oil and Gas Company (PGNiG) has purchased a cargo of liquefied natural gas from the US, and then – following regasification – sold the natural gas to Energy Resources of Ukraine (ERU). Thanks to the consistent expansion of the LNG supply portfolio PGNiG is able to offer natural gas to more customers.
ERU TRADING LLC, a subsidiary of US-based ERU Corporation, has imported electricity from Slovakia and Hungary for the first time in Ukraine's history within the so-called “Burshtyn energy island”. The maximum capacity of ERU’s electricity import is 130 MW. This achievement is a result of the cooperation of ERU, its European trading partners, the European commission and the proactive position of Ukrenergo’s management.
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.