Naftogaz Group has signed an agreement under which the Netherlands will provide €23 million through the European Bank for Reconstruction and Development (EBRD) to fund additional gas purchases.
Serhii Fedorenko, acting chairman of the board of Naftogaz of Ukraine, announced this on Facebook, according to Ukrinform.
“Naftogaz Group has signed a grant agreement with the EBRD for €23 million in funding from the Dutch government. The funds will be used to purchase additional volumes of gas during periods of peak demand,” Fedorenko wrote.
He noted that the grant is part of the Netherlands’ continued support for Ukraine’s energy sector.
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“Ukraine entered the heating season with sufficient gas reserves in storage. Greater import capacity during periods of peak demand will provide the system with an additional margin of resilience over the winter,” Fedorenko added.
As reported by Ukrinform, in September, Naftogaz Group and Poland’s ORLEN signed two memorandums aimed at strengthening Ukraine’s energy security and diversifying energy supply routes.