June 6 (SeeNews) - The Croatian government approved state guarantees for two loans from commercial banks worth a total 1 billion euro ($1.07 billion) to state-owned electricity company HEP to ensure the security of the country's energy supplies.
“Following the Russian aggression on Ukraine and an increase in energy prices, it is of key importance to ensure the security of energy supplies to households and companies,” economy minister Davor Filipovic told a weekly cabinet meeting on Friday. A video recording of the meeting is published on the government's web site.
One of the loans, worth up to 600 million kuna, will go to buy electricity, gas, coal and heating energy.
With the other loan, worth up to 400 million kuna, HEP will procure 270.8 milion cubic meters of natural gas and will store it in the Okoli underground gas storage.
All gas storage facilities should be at least 90% full by November 1, Filipovic also said.
($=0933 euro)
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