Norwegian grant strengthens Ukraine’s energy security during wartime

The Naftogaz Group has formalized a grant agreement with the European Bank for Reconstruction and Development (EBRD) valued at €85 million. Provided by the Norwegian government, the funding is earmarked for the procurement of imported gas to ensure a stable heating season, Naftogaz reported.

This support follows an agreement between Ukrainian President Volodymyr Zelenskyy and Norwegian Prime Minister Jonas Gahr Støre. The grant will facilitate the purchase of additional gas volumes, helping to partially offset losses in domestic production caused by Russian military attacks.

“Thanks to the Norwegian government, the NORAD fund, and the EBRD for their, as always, timely and crucial support,” said Sergii Koretskyi, Chief Executive Officer of Naftogaz of Ukraine.

The financing is channeled through the EBRD’s donor cooperation mechanisms, designed to promptly meet Ukraine’s energy sector needs. The Norwegian grant forms part of a broader international effort to strengthen Ukraine’s energy security and ensure uninterrupted gas supplies during the heating season amid the ongoing conflict.

By Vafa Guliyeva