Netherlands to Provide Naftogaz With €23M for Additional Gas Purchases

Naftogaz, Ukraine’s state oil and gas conglomerate, has signed a €23 million ($25.7 million) grant agreement with the European Bank for Reconstruction and Development (EBRD), funded by the Netherlands, to buy additional natural gas.

Naftogaz acting CEO Serhiy Fedorenko announced the deal on on Tuesday. He said the funds would be used to purchase extra gas volumes during periods of peak consumption.

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“Ukraine entered the heating season with sufficient gas reserves in storage,” Fedorenko said, adding that greater import capacity at peak times would give the system an additional safety margin in winter.

Fedorenko described the grant as part of the Netherlands’ systematic support for Ukraine’s energy sector.

Arvid Tuerkner, EBRD managing director for Ukraine and Moldova, said the Dutch grant would complement the EBRD’s own financing for Ukraine’s gas purchases, according to the bank’s press release .

The bank added that it has provided over €3.6 billion ($4 billion) to support Ukraine’s energy system since Russia began its full-scale invasion of Ukraine.

It added that the funds are intended to help meet winter heating needs as Russian attacks on gas production infrastructure continue. By Oct. 16, Naftogaz facilities had been attacked more than 400 times, Fedorenko said. The attacks affected production, processing and transportation facilities, as well as frontline thermal power plants.

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Naftogaz has been preparing for a difficult heating season. Fedorenko said earlier that the company has drawn up 24 scenarios for the 2026-27 autumn-winter period, factoring in strikes on gas infrastructure, weather and domestic production.

The company has also been working to diversify its supply options. In September, Naftogaz and Poland’s ORLEN signed two memorandums to strengthen Ukraine’s energy security and diversify supply routes.