Ukraine to receive €300 million for gas to ensure stable heating this winter
Photo: Ukraine and the EIB signed a significant €300 million agreement (naftogaz.com)
Naftogaz (the largest national oil and gas company of Ukraine) and the European Investment Bank (EIB) have signed a €300 million loan agreement. The funds will be used to purchase gas to ensure stable heating for Ukrainians this winter, according to a statement from Naftogaz’s press service.
The company noted that the funds will be used to build long-term reserves and ensure a stable gas supply during the winter.
Under the agreement, Naftogaz has committed to reinvesting an amount equivalent to the European Investment Bank loan into renewable energy and decarbonization projects.
"This new financing from the EIB will help strengthen Ukraine’s energy security during the winter period, providing vital support to communities and businesses," emphasized EIB President Nadia Calviño.
According to Prime Minister Yulia Svyrydenko, the agreement is an important step toward creating a modern energy system and integrating Ukraine into the EU.
"Reliable energy supply is essential for the operation of enterprises, the preservation of jobs, and further investment in our economy. At the same time, this partnership supports Ukraine’s long-term goal of building a resilient, sustainable, and Europe-integrated energy sector," stressed Minister of Economy, Environment, and Agriculture Oleksii Sobolev.
Gas reserves in Ukraine
Earlier, Naftogaz CEO Serhii Koretskyi stated that his company had fulfilled 95–97% of the government’s plan for preparing for the heating season.
The plan requires that 13.2 billion cubic meters of gas be stored in underground facilities.
