Naftogaz received a €62.2 million loan from Oschadbank

Naftogaz Group raised a UAH 3 billion (€62.2 million) loan from the state-owned Oschadbank, the company’s press service reported.

The funds will be used to purchase additional volumes of imported natural gas, which became necessary after massive Russian shelling of Ukraine’s gas infrastructure in early October 2025.

At today’s NBU exchange rate, Naftogaz received about $72.6 million or €62.2 million.

“Together with our Ukrainian and international partners, we are working to mobilize financial and other resources to ensure a stable winter heating season amid Russia’s ongoing terrorist strikes,” commented Naftogaz CEO Sergii Koretskyi.

Naftogaz noted that mutually beneficial cooperation between Naftogaz of Ukraine and Oschadbank has continued for more than fifteen years. Oschadbank provides comprehensive banking services to Naftogaz Group, including lending and a full range of other financial products.

“Supporting the country’s energy security is one of Oschadbank’s key priorities - especially during the full-scale war, when the enemy continues to destroy power generation facilities, electrical grids, and gas infrastructure. Naturally, we could not stand aside and were glad to support our long-term partners at Naftogaz Group in preparing for the heating season,” noted Yurii Katsion, Deputy Chairman of Oschadbank’s Management Board responsible for corporate business.

As reported by ExPro, at the beginning of October, Naftogaz received a €300 million loan from the EIB, in August raised a €500 million loan from the EBRD, as well as a grant of about €85 million from Norway. These funds are already being used to purchase imported gas for the winter.

In addition, Naftogaz received loans from Ukrainian state-owned banks to purchase gas: €96 million from PrivatBank and €96 million from Ukrgasbank, as well as $59.3 million from Ukreximbank to finance the production needs of Ukrgasvydobuvannya.

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Detailed analytics of the natural gas market in Ukraine, including production, imports, exports, UGS reserves, trading results, natural gas prices, key news, etc., are published in specialized publications ExPro Daily Gas, ExPro Gas&Oil Weekly, and ExPro Gas&Oil Monthly.

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