Norway is providing an additional NOK1 billion ($95 million) to finance gas imports to Ukraine to ensure adequate supplies for households, businesses and industry in the country, the Norwegian government said on Wednesday.
“A more secure energy supply is essential for Ukraine’s resilience. This was one of the topics discussed during President Zelensky’s visit to Norway last week. There is an urgent need to increase funding for gas imports to provide electricity and heating for homes, businesses and public institutions. Norway is doing its part to meet this need,” said Prime Minister Jonas Gahr Støre.
The new financing will be channelled through the European Bank for Reconstruction and Development (EBRD) and will be used to purchase gas from Western sources. The recipient of the gas will be the Ukrainian state-owned company Naftogaz. The imported gas will be used to meet consumption needs and increase gas reserves in case of further attacks on gas infrastructure. The financing is provided under the Nansen Support Program for Ukraine, and NOK1 billion is taken from the 2025 energy sector allocation for Ukraine.
“Access to electricity is essential to ensure the security of the Ukrainian people and to ensure the continued functioning of society. The attacks on Ukraine’s energy supply are and have been an attack on the very core of Ukrainian society. They are part of an attempt to weaken the Ukrainian economy and undermine the confidence of the Ukrainian people in their government. That is why it is crucial and strategic to help preserve access to gas,” said Foreign Minister Espen Barth Eide, who is visiting Ukraine this week.
The additional allocation will bring Norway’s total contribution to Ukraine’s gas purchases from 2022 to NOK3.6 billion ($342 million). In 2023, NOK635 million was allocated for gas purchases. The funds have already been released and can be used to increase the total contribution. Thus, the total amount of the agreement is NOK1.635 billion ($155 million).
“We don’t know yet how much gas Ukraine will need to import this year, but Norway’s contribution will enable Ukraine to better cope with the consequences of new attacks from Russia and make the necessary preparations for next winter,” Eide said.
The EBRD has been cooperating with Naftogaz for several years, in particular on corporate governance. Channelling funds through the EBRD helps to reduce risks, such as the risk of corruption and financial irregularities, the statement said.
As reported, Ukrainian Prime Minister Denys Shmyhal on Wednesday discussed joint humanitarian programs and sanctions against Russia with Norwegian Foreign Minister Espen Barth Eide and Norwegian Minister of Labor and Social Inclusion Tonje Brenna. The prime minister also thanked Norway for its assistance in the energy sector, in particular for its readiness to make a EUR140 million contribution through the EBRD for the purchase of gas for Ukrainian gas storage facilities.
