2022-11-21T16:09:00+02:00 Economy 2023-09-15T04:41:14+03:00

Ukrainian news

Ukrainian news

Norway Will Provide Naftogaz With EUR 195 Million Grant For Purchase Of Gas

Norway Will Provide Naftogaz With EUR 195 Million Grant For Purchase Of Gas

Norway will provide the Naftogaz of Ukraine national joint-stock company through the European Bank for Reconstruction and Development (EBRD) with a grant of EUR 195 million for the purchase of natural gas.

This is stated in the bank's message, Ukrainian News Agency reports.

"Norway has agreed to provide a grant of NOK 2 billion (equivalent to EUR 195 million) to complement the EBRD's EUR 300 million loan to Naftogaz. The contribution will help Naftogaz purchase natural gas for two annual gas procurement and supply cycles. This will provide heating for households, schools and offices, electricity production and will support the economy," the message says.

As Ukrainian News Agency earlier reported, Naftogaz contracted the first volumes of gas with EBRD loan funds.

Previously, Naftogaz attracted a credit facility of EUR 300 million from the EBRD for the purchase of natural gas.

The Naftogaz of Ukraine national joint-stock company is a leading enterprise of the country's fuel and energy complex, which is engaged in the exploration and development of deposits, drilling, oil and gas storage, oil transportation, and gas supply to consumers.