Naftogaz and the Cabinet of Ministers signed a memorandum with the EBRD for €200 million

On June 21, Naftogaz of Ukraine NJSC and the Cabinet of Ministers of Ukraine signed a memorandum with the European Bank for Reconstruction and Development (EBRD) for €200 million. Ukrenergo and Ukrhydroenergo also signed similar memorandums.

According to Naftogaz, the primary purpose of the memorandum is to support energy security and decarbonization of the gas sector.

"Despite the hostilities, we continue to ensure the stable operation of the energy system and look for new opportunities to protect it. Today, the support of international partners is one of the important factors in the stability of the Ukrainian energy industry," said Oleksiy Chernyshov, chairman of the board of Naftogaz.

The signed memorandum provides that the parties will join forces to:

• the creation of strategic gas reserves, which are important for the energy security of Ukraine and the sustainable passage of the next two heating seasons;
• implementation of projects on decarbonization and reduction of methane emissions;
• involvement of donor support for the implementation of relevant measures and programs;
• development of energy efficiency.