Ukraine’s Naftogaz Signs €127 Million Grant Deal with EIB and Norway’s Support
The EU has allocated new financial support to Ukraine’s state energy company Naftogaz to ensure stable gas supplies amid ongoing Russian attacks on energy infrastructure.
The Gaze reports on it, referring to Reuters.
The European Investment Bank (EIB) and Naftogaz Group have signed a grant agreement worth €127 million for natural gas imports to stabilize supplies in Ukraine during the heating season.
The financing is provided under the Ukraine Investment Framework, an EU instrument for Ukraine's recovery, with financial support from the Norwegian government.
According to the EIB, this assistance complements a €300 million credit line agreed last month. The funds would help compensate for losses in domestic production caused by Russian attacks on gas infrastructure.
At the same time, the EU will allocate another €25 million to improve drinking water and wastewater treatment systems and €50 million to restore social housing.
“This is vital and, most importantly, timely support that will help ensure a stable gas supply during the heating season,” said Serhiy Koretsky, head of Naftogaz Ukraine.
The European Investment Bank is one of Ukraine's key financial partners, providing systematic support for its recovery since the start of the full-scale war. The cooperation covers dozens of projects worth over €4.7 billion aimed at restoring transport, energy, and social infrastructure.
Earlier, Norway announced that it would provide Ukraine with an additional 1 billion Norwegian kroner (approximately $100 million) to purchase natural gas ahead of the 2025–2026 winter season. The funds are being channeled through the European Bank for Reconstruction and Development to the state-owned company Naftogaz to purchase gas from Western suppliers and build up reserves in case of new Russian attacks.
Norway's total support for gas supplies since the start of the full-scale invasion already amounts to 4.6 billion kroner, which will help provide heating for about one million Ukrainian households.
As The Gaze previously reported, the Naftogaz Group and Norwegian company Equinor have launched a new phase of cooperation aimed at strengthening the development of Ukraine's energy sector and introducing modern technologies in oil and gas production.