KIEV, June 26 ??“ Naftogaz Ukrayiny, the national oil and gas company, seeks $1 billion bail-out from the government in order to avoid gas supply disruptions and shortages later this year, a news agency reported Monday.

Naftogaz earlier this month admitted of running a $700 million debt for gas supplies, but plans to get $1 billion in urgent financing show the company??™s real financial situation may be worse.