Roman Chumak. Photo: Naftogaz
Ukraine continues to work actively to strengthen its energy security in the face of war. On 28 April, agreements were signed to raise more than €270 million from the European Bank for Reconstruction and Development (EBRD) and the Norwegian government to purchase natural gas. This was reported by Naftogaz.
According to the Ministry of Energy, the funds will be used to replenish strategic gas reserves for the next heating season. The financing will allow Naftogaz of Ukraine to promptly purchase the necessary volumes of fuel on international markets.
“Ensuring stable gas supplies is a key element of our energy sustainability. The signing of these agreements is another step in preparing for the winter,” said Energy Minister German Galushchenko.
The EBRD will provide a €200 million loan to Ukraine, while Norway will provide a €70 million grant. These funds are expected to help ensure the stability of the country’s energy system amid growing energy challenges caused by Russian aggression.
EBRD representatives noted that support for Ukraine in the energy sector remains one of the bank’s top priorities in 2024.
This is not the first time that international partners have been actively involved in ensuring Ukraine’s energy stability: in 2023, the EBRD and other donors also provided funding for gas purchases and energy infrastructure repairs.
