Naftogaz has secured a 270-million-euro loan from the European Bank for Reconstruction and Development (EBRD) and a 140-million-euro grant from the Norwegian government. The funding will be used to finance emergency gas purchases for the next two heating seasons.
Purchasing 1 bcm of gas
Roman Chumak, Acting Chairman of the Board at Naftogaz of Ukraine, said the financing is already available and that Naftogaz is immediately using it to import gas.
“These funds are critical for Naftogaz,” he said. “They will allow us to purchase nearly 1 billion cubic metres (bcm) of gas, which is essential to ensure a stable heating season amid ongoing war and repeated attacks on energy infrastructure. We are grateful to all partners supporting our preparations for next winter.”
EBRD: 2 billion euros
The EBRD has invested over €2 billion in Ukraine’s energy sector since Russia invaded in 2022. Naftogaz has been the recipient of two previous EBRD loans for a total of 500 million euros, backed by 275 million euros in guarantees from the United States, Norway, Germany, France, Canada and the Netherlands, and complemented by earlier grant finance from Norway of 187 million euros for emergency gas purchases. The latest agreement lifts EBRD finance for the Ukrainian company to 770 million euros since 2022.
