Naftogaz to spend EBRD loan of 270 mln euros, Norwegian grant of 140 mln euros on buying 1 bcm of gas

MOSCOW. April 28 (Interfax) - Naftogaz Group will spend a loan of 270 million euros from the European Bank for Reconstruction and Development and a grant of 140 million euros provided by Norway via the NORAD fund on the urgent procurement of 1 billion cubic meters of gas, Ukrainian media said.

"The acquired funds are very important to Naftogaz, as they will allow purchasing almost 1 billion cubic meters of gas, which is crucial for stable passage of the next heating season," the media quoted a commentary by Naftogaz Group head Roman Chumak published on the company website.

Chumak said that the funds were already available.

As reported, the EBRD confirmed on April 25 the provision of a loan of 270 million euros to Naftogaz of Ukraine for forming strategic gas reserves. Norway added a grant of 139 million euros to be allotted on a state guarantee via the EBRD Crisis Response Special Fund.

Earlier, Naftogaz received two EBRD loans totaling 500 million euros and supported with guarantees from the United States, Norway, Germany, France, Canada, and the Netherlands totaling 275 million euros and Norway's grants in the amount of 187 million euros for the urgent procurement of gas.

Naftogaz Board member, Commercial Director Dmitry Abramovich said in late March that Ukraine needed to import 4.5 bcm to 4.6 bcm of gas before November 1, 2025.