Naftogaz continues to seek money for gas purchases and signs grant agreement with EIB for EUR 127 million

Naftogaz Group has signed a grant investment agreement with the European Investment Bank (EIB) for the amount of EUR 127 million.

This is announced in the group's statement, Ukrainian News Agency reports.

The statement says that the funds provided by the European Union with the financial support of the Norwegian government will go to purchase natural gas for this heating season.

"This is important and, most importantly, timely support that will help ensure stable gas supplies during the heating season. We are grateful to the European Commission, the Norwegian Government and the EIB. Sincere gratitude to the President of Ukraine and the Government for making this assistance possible," said Serhii Koretskyi, Chairman of the Board of Naftogaz of Ukraine.

The financing is provided through the Ukraine Investment Framework (UIF), a mechanism created to mobilize public and private investment in the recovery and reconstruction of Ukraine after the russian aggression.

"The EU grant of EUR 127 million to Naftogaz, in addition to the EUR 300 million EIB loan signed and fully disbursed in October, reflects a shared understanding of the urgency of the situation and our ability to act quickly," said EIB Vice-President Teresa Chervinska, responsible for the bank's activities in Ukraine.

The UIF is part of the Ukraine Facility, the EU's main instrument for civilian support to Ukraine.

This is the first time that Norway is channeling its assistance directly through this mechanism.

This demonstrates Team Europe's rapid and coordinated response to support Ukraine's urgent energy needs.

As Ukrainian News Agency earlier reported, Naftogaz previously attracted loans from state-owned PrivatBank, Ukreximbank, Oschadbank and Ukrgasbank.

On October 1, Naftogaz Group signed a historic loan agreement with the European Investment Bank (EIB) for EUR 300 million.

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