The European Investment Bank (EIB) has signed an agreement with the company “Naftogaz of Ukraine,” under which the Ukrainian energy holding will receive a loan of 300 million euros. The aim of this financial support is to ensure the resilience of the energy sector and replenish natural gas reserves ahead of the winter heating season.
This is reported by Business • Media
Support for Energy Security and the Green Transition
The loan is provided under the guarantees of the European Commission as part of the EU Investment Program for Ukraine. Thanks to this funding, the country will be able to fill its gas storage facilities and guarantee stable heating for hundreds of thousands of Ukrainian families even amid ongoing attacks from Russia.
“Thanks to this funding, Ukraine will be able to secure gas reserves and stable heating supply this winter for hundreds of thousands of households, despite constant enemy attacks.”
In addition to meeting the basic needs of the population and businesses, the funds will facilitate Naftogaz’s transition to renewable energy sources and reduce carbon emissions. The EIB is providing the company with technical support for the implementation of green technologies and decarbonization.
Strategic Steps by Naftogaz in the Gas Sector
The Naftogaz group has already imported over 400 million cubic meters of liquefied natural gas from the United States through a Polish intermediary, and by the end of the year, this volume is expected to increase to 500 million cubic meters. In the future, the company plans to enter into direct agreements with American suppliers, which will strengthen Ukraine’s energy independence.
Moreover, Naftogaz has already fulfilled 95-97% of the annual government plan for gas injection into underground storage. By the start of the heating season, 13.2 billion cubic meters of fuel must be accumulated in underground gas storage, which is critically important for the country’s energy security amid war and a cold winter.