KIEV, Feb. 15 – Ukraine plans to borrow $1 billion to establish a strategic reserve of natural gas and fuel oil to cover local needs in emergency situations, Prime Minister Arseny Yatseniuk said on Saturday, Reuters reported.

"The government has adopted a decision to establish reserves of gas and fuel oil worth $1 billion via borrowing under state guarantees," Yatseniuk told a government meeting.

"This $1 billion will be spent to buy this strategic reserve," he added, giving no details about gas origin.