Norway Allocates €380 Million to Naftogaz for Gas Purchases, Strengthening Ukraine's Energy Security

Norway is providing approximately €380 million in funding for the Naftogaz Group to support gas purchases, as part of a broader aid package aimed at bolstering Ukraine's energy security amid ongoing attacks from Russia. The financing will be facilitated through the European Bank for Reconstruction and Development (EBRD) and will also support infrastructure restoration, emergency generators, and nuclear safety initiatives. Naftogaz CEO Roman Chumak emphasized the critical importance of this assistance for the stability of Ukraine's energy system, while Norwegian Prime Minister Jonas Gahr Støre highlighted the urgent need for energy support in addition to military aid. Since the start of 2024, Naftogaz has reported multiple missile attacks on its facilities, demonstrating the vulnerability of Ukraine's energy infrastructure. Ukrainian President Volodymyr Zelenskiy acknowledged this grant as part of a larger assistance program valued at $3.5 billion, aimed at mitigating the impacts of the war on the country's energy supply. The situation remains critical as Ukraine faces significant challenges in maintaining energy production and stability due to the conflict.