Naftogaz secured a €300 million loan from the European Investment Bank to purchase gas for long-term storage and to ensure stable gas supplies to the country amid ongoing Russian attacks.
This was reported by the Naftogaz Group.
The document was signed by Naftogaz CEO Serhiy Koretsky and EIB Head of Investment in Ukraine Matteo Rivellini.
“This new financing from the EIB will help strengthen Ukraine’s energy security during the winter, providing vital support to communities and businesses,” said EIB Group President Nadia Calviño.
The financing is being implemented as part of the EIB’s Ukraine Energy Support Plan and is guaranteed by the European Commission under the Ukraine Investment Framework (UIF).
According to Serhiy Koretsky, Chairman of the Board of Naftogaz of Ukraine, the €300 million from the EIB will help ensure the country’s energy stability ahead of winter.
“This agreement is also a continuation of Naftogaz’s transition to renewable energy sources and decarbonization. This is an important step towards creating a modern energy system and integrating Ukraine into the European Union,” said Ukrainian Prime Minister Yulia Svyrydenko.
The agreement was signed in the presence of Minister of Economy, Environment, and Agriculture Oleksiy Sobolev and European Commissioner for Enlargement Marta Kos during her visit to Kyiv.