Naftogaz discussed strengthening energy security with the EBRD

Naftogaz of Ukraine plans to strengthen cooperation with the European Bank for Reconstruction and Development (EBRD) in matters of energy security and the completion of the 2022-2023 heating season.

This was announced by Naftogaz chairman Oleksiy Chernyshov after a meeting with Matteo Patrone, managing director of the EBRD in Eastern Europe and the Caucasus.

"The EBRD is one of the key strategic partners of the Naftogaz Group, which provides the company with financial support and helps overcome the devastating consequences of the Russian invasion. Back in the summer, the EBRD decided to open a €300 million Naftogaz credit line for emergency gas purchases. The first purchases have already been contracted, but the main work is still ahead. Therefore, right now we have to act in a coordinated and quick manner," Chernyshov emphasized.

The head of Naftogaz also expressed his gratitude to the EBRD for its powerful support during a difficult time for Ukraine.

As a reminder, in June 2022, with the aim of sustaining the heating season, Naftogaz concluded a credit agreement with the EBRD to open a revolving credit line in the amount of €300 million for the purchase of imported natural gas.

The loan is part of a €1 billion program that the EBRD intends to implement this year in Ukraine in cooperation with donors and other partners to support the real sector of the country's economy.

As reported by ExPro, Chernyshov discussed the expansion of oil and gas cooperation with the British ambassador.