Business news from Ukraine

Business news from Ukraine

PrivatBank finances Naftogaz for almost UAH 5 bln to prepare for winter

23 July , 2025  

Naftogaz Group has attracted a UAH 4.7 billion loan from PrivatBank to fill its underground gas storage facilities with the required volumes of gas, said Serhiy Koretsky, Chairman of the Board of Naftogaz of Ukraine Sergiy Koretsky.

“Naftogaz Group has attracted a UAH 4.7 billion loan from PrivatBank. The funds were used to build up the necessary gas reserves in underground storage facilities for a sustainable heating season,” Koretsky wrote on Facebook on Wednesday.

He noted that cooperation with international financial organizations and partner countries is ongoing.

“I am grateful to the management of PrivatBank for the quick response to our request. I thank the Government for supporting our efforts to prepare for the winter,” said the head of Naftogaz.

The company indicated that it is diversifying sources and routes of gas supply to increase Ukraine’s energy security and resilience in a full-scale war.

As reported, in the spring of 2025, Naftogaz announced its intention to use a EUR 270 million loan from the European Bank for Reconstruction and Development (EBRD) and EUR 140 million in grant funding provided by the Norwegian government through the NORAD fund for the urgent purchase of 1 billion cubic meters of gas. The company has also contracted 440 million cubic meters of liquefied natural gas (LNG) from the Polish concern ORLEN.

 

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