Naftogaz Group has received another package of financial support from the European Investment Bank (EIB) with the assistance of the European Commission. These funds will be used to ensure critical gas imports and support Ukraine's energy resilience during periods of peak system loads caused by low temperatures and ongoing shelling. This is reported by UNN with reference to information from Naftogaz.
Details
The new financing of 50 million euros is part of a broader strategy of cooperation with international partners, which already includes a 300 million euro loan from the EIB and grant funds from the EU and Norway. The attracted capital will allow the company to promptly purchase additional volumes of fuel needed for the operation of combined heat and power plants and stable gas supply to homes and social facilities.
These funds will go to gas imports and support the energy system during peak loads – when frosts and shelling create the greatest pressure. These are funds that help keep homes warm, critical infrastructure working, and the system resilient in wartime conditions.
Course for decarbonization and renewal
In addition to addressing the immediate needs of the heating season, the agreement provides for the company's long-term environmental commitments. Naftogaz plans to reinvest an amount equivalent to the received loan in the development of renewable energy projects and measures to decarbonize production. This will allow not only to get through the current winter, but also to begin a structural restructuring of Ukraine's energy sector in accordance with European standards.