According to Koretskyi, the financing is provided by the European Union under arrangements made by President Volodymyr Zelenskyy, with support from the Government of Norway. The funds will be used to compensate for the loss of domestic gas production caused by Russian strikes on civilian gas infrastructure.
He noted that the grant is being allocated through the Ukraine Investment Framework — an EU mechanism designed to mobilise resources for Ukraine’s recovery.
“This is important and timely support that will help ensure a stable heating season,” the Naftogaz CEO said.
Background on financing
In April, Naftogaz received a €270 million EBRD loan backed by state guarantees, supplemented by a €139 million grant from Norway. The company later secured €500 million from the EBRD under European Commission guarantees and a €300 million loan from the EIB. The EBRD is also working on allocating an additional €500 million for urgent gas purchases.
In addition to support from international partners, the company has attracted domestic financing, including:
• UAH 3 billion from Oschadbank
• UAH 2.45 billion from Ukreximbank
• UAH 4.7 billion each from Ukrgasbank and PrivatBank
In August, the Norwegian government allocated another 1 billion Norwegian kroner (€98 million) to Ukraine for gas purchases. Overall, Naftogaz has invested around $1 billion of its own funds to build up reserves for the winter period.
Earlier, National Bank of Ukraine Governor Andriy Pyshnyi stated that due to Russian attacks, 55% of Ukraine’s gas production is currently unavailable, increasing the need for additional imports.
