GTST Trident (IFC-36113)

Regions
  • World
Where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Bank Risk Rating
B
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Dec 17, 2015
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
ENGIE SA
The holder of the loan, grant, or other investment.
Sectors
  • Energy
  • Finance
  • Industry and Trade
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 200.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Jul 21, 2017

Disclosed by Bank Nov 19, 2015


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Project Description
This project finances the importation of natural gas to Ukraine during the winter season of 2015-2016 in order to contribute to the supply of energy in the country.
Investment Description
  • International Finance Corporation (IFC)
This project consists of up to one year trade finance facility of up to US$200 million to cover the importation of natural gas to Ukraine by the state-owned National Joint Stock Company Naftogaz of Ukraine. This trade finance facility will be used to finance the deliveries of ENGIE, major European supplier of natural gas, under their natural gas supply framework contract with Naftogaz. Founded in 1998, Naftogaz is a JSC with 100% shares owned by the state of Ukraine. It is a vertically integrated oil and gas company engaged in the full cycle of gas and oil field exploration and development, production and exploratory drilling, gas and oil transport and storage, supply of natural gas and LPG to consumers, through its different enterprises. Aside from purely commercial operations, Naftogaz plays an important social role and supplies natural gas to households, budget-funded institutions and utilities at prices set by the state.ENGIE is a global energy player and an expert operator in the three key sectors of electricity, natural gas and energy services. The group has more than 180 years of history in energy business. ENGIE is headquartered in Paris, France and employs about more than 150,000 people globally. The French Government has 32.3% stake in the group as a shareholder and remaining stake is held by public (including institutional investors and individual investors). Since 2014 ENGIE has been one of the major suppliers of natural gas to Ukraine.
Contact Information
Willem Coppoolse Head of Illiquid Gas Markets Origination Energy Management & Trading, ENGIE 1, place Samuel de Champlain 92930 Paris La Défense Cedex - France F: +33156654212 M: +33682033215 mailto:willem.coppoolse@gdfsuez.com http://www.gdfsuez.com Naftogaz: Sergiy Oleksiyenko Chief Advisor to the Chairman of the Board National Joint-Stock Company Naftogaz of Ukraine B. Khmelnytskogo str, 6 Kyiv, 01001, Ukraine Tel.: +380 (44) 586-39-47 mailto:Oleksiyenko@naftogaz.com http://www.naftogaz.com ACCOUNTABILITY MECHANISM OF IFC The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/