Economy 2024-02-15T04:57:10+02:00
Ukrainian news
Cabinet Allows Naftogaz To Purchase Ukrainian-Produced Gas With Credit Funds

Cabinet Allows Naftogaz To Purchase Ukrainian-Produced Gas With Credit Funds

Ukraine, Cabinet, Cabinet of Ministers, Canada, Naftogaz, Ukrenergo, GTS Operator of Ukraine, Naftogaz Trading, purchase of natural gas, heating season 2022/2023, heating season in Ukraine

The Cabinet of Ministers allowed Naftogaz Trading LLC to purchase Ukrainian-produced gas with credit funds from the Canadian government.

This is stated in the notification of the Ministry of Energy, Ukrainian News Agency reports.

"At the initiative of the Ministry of Energy, the government adopted a resolution that will ensure the effective use of budget funds in the amount of UAH 12.7 billion for alternative supplies of natural gas. According to the document, Naftogaz Trading, in agreement with the Ministry of Energy, will purchase gas under foreign economic contracts, and as well as Ukrainian-produced gas, based on the security of the natural gas balance," the message reads.

Also, Naftogaz Trading should sell gas depending on the need to cover needs according to the proposals of NEC Ukrenergo, JSC Naftogaz of Ukraine, LLC GTS Operator of Ukraine.

Funds from the sale are subject to transfer to the state budget.

As Ukrainian News Agency earlier reported, for the period of the heating season of 2022-2023, Ukraine needs an additional 3 billion cubic meters of gas worth more than USD 4 billion.

The Cabinet of Ministers transferred over UAH 12.7 billion received from the Canadian government for the purchase of gas to Naftogaz.

Norway will also provide Naftogaz with a grant of EUR 195 million for the purchase of gas.