Naftogaz to allocate EUR 270 mln of EBRD loan, EUR 140 million of Norwegian grant for purchase of 1 bcm of gas
Naftogaz Group will allocate EUR 270 million of the European Bank for Reconstruction and Development (EBRD) loan and EUR 140 million of grant funding provided by the Norwegian government through the NORAD fund for the urgent purchase of 1 billion cubic meters (bcm) of gas.
"These funds are critical for Naftogaz. They will allow us to purchase nearly 1 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," Roman Chumak, Acting Chairman of the Board at Naftogaz Ukrainy, said in a press release posted on the Group's website on Monday.
Chumak said the financing is already available that expressed gratitude to the EBRD, Ukraine's Ministry of Finance, Norway's Ministry of Foreign Affairs, the NORAD Foundation, and the Naftogaz team for their successful cooperation in making this financing possible.
Cooperation with international financial institutions is central to Naftogaz's long-term strategy to diversify supply and secure Ukraine's energy stability.
