Naftogaz wins grant of EUR 188 million in additional non-repayable funding from EBRD

2 February, 01:27 PM
Oleksiy Chernyshov (Photo:Oleksiy Chernyshov)

Oleksiy Chernyshov (Photo:Oleksiy Chernyshov)

Ukraine’s national fossil fuel company Naftogaz and the European Bank for Reconstruction and Development (EBRD) have signed an agreement on EUR 188.8 million in additional non-repayable grant aid to Ukraine for the procurement of imported gas until the end of the 2022/2023 heating season, Naftogaz reported on Feb. 1.

The document was signed by Naftogaz CEO Oleksiy Chernyshov and EBRD Managing Director for Eastern Europe and the Caucasus Matteo Patrone.

“This grant makes it possible to procure volumes of gas that fully cover all of Ukraine’s needs for natural gas until the end of this heating season,” Chernyshov said.

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Naftogaz reiterated that Chernyshov and Patrone had their first meeting on the relevant issue on Nov. 10, 2022.

The agreement was finalized during the World Economic Forum in Davos, Switzerland, in January 2023.

Earlier, Naftogaz stated that Ukraine would have enough gas to last for the current heating season.

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