In 2024, Naftogaz Group received almost UAH 38 billion of net consolidated profit, which is UAH 15 billion, or 64% more than in 2023.
“All key business areas have shown growth: gas production, transportation and storage, sales and distribution, and electricity and heat sales,” the company said on Thursday.
At the same time, the group’s gross profit for 2024 increased to UAH 89.1 billion compared to UAH 48.5 billion in 2023. At the same time, the operating profit for 2024 amounted to UAH 51.1 billion, which is almost UAH 13.3 billion, or 32% more than the same indicator for the previous period.
The results of Naftogaz’s operations were confirmed by an independent international audit by KPMG.
“Amidst the war, we guarantee energy stability and at the same time strengthen the country’s financial stability. I thank every employee of the group for this result,” said Roman Chumak, CEO of Naftogaz Group.
Naftogaz Group will use a EUR 270 million loan from the European Bank for Reconstruction and Development (EBRD) and a EUR 140 million grant from the Norwegian government through the NORAD fund to purchase 1 billion cubic meters of gas as a matter of urgency.
“The funds received are extremely important for Naftogaz. They will allow us to purchase almost 1 billion cubic meters of gas, which is critical for the stable passage of the next heating season, especially in the context of war and regular attacks on our energy infrastructure. I am grateful to all the partners who help Naftogaz prepare for the next winter,” commented Roman Chumak, CEO of Naftogaz Group, in a statement on the company’s website on Monday.
Chumak emphasized that the financing is already available and expressed his gratitude to the EBRD, the Ministry of Finance of Ukraine, the Ministry of Foreign Affairs of Norway and the NORAD Foundation, as well as the Naftogaz team for the successful cooperation that helped to attract financing for gas purchases.
As noted, cooperation with international financial institutions is part of Naftogaz’s long-term strategy to diversify its supply sources and ensure Ukraine’s energy stability.
Earlier it was reported that on April 25, the EBRD confirmed the provision of a EUR 270 million loan to Naftogaz of Ukraine to create strategic gas reserves, Norway supplemented the loan provided under the state guarantee with a grant of EUR 139 million, which will come through the EBRD Special Crisis Response Fund.
“Naftogaz has previously received two EBRD loans totaling EUR 500 million, which were accompanied by guarantees from the United States, Norway, Germany, France, Canada and the Netherlands totaling EUR 275 million, as well as grant funding of EUR 187 million from Norway for emergency purchases of natural gas.
At the end of March, Dmytro Abramovich, a member of the Board and Commercial Director of Naftogaz Group, said that Ukraine needs to import 4.5-4.6 billion cubic meters of natural gas by November 1 this year.
Naftogaz Group and Polish oil concern ORLEN have signed a new agreement for the supply of 100 million cubic meters of liquefied natural gas (LNG) to Ukraine.
“This is the third contract within the partnership signed in the spring of this year. The total volume of contracted gas is 300 million cubic meters,” the company said on Thursday.
The signing of the contract was announced at the annual ORLEN GAS Meeting, a leading industry event dedicated to the region’s energy security.
The gas will be supplied from the US, regasified at the terminal in Świnoujście (Poland) and transported to Ukraine via the Polish gas transportation system.
“We are already preparing for the next heating season, and such contracts are an important part of our strategy to diversify supplies and ensure the country’s energy stability,” said Roman Chumak, CEO of Naftogaz Group.
In turn, according to Robert Soschinsky, Vice President of Operations at ORLEN, the new agreement with Naftogaz emphasizes the growing role of ORLEN as a natural gas supplier in the region.
“Our partnership significantly strengthens Ukraine’s energy security thanks to ORLEN’s diversified supply portfolio and efficient use of the Polish gas transportation infrastructure,” he emphasized.
As reported, in March 2025, Naftogaz and ORLEN signed a memorandum of long-term cooperation in the field of liquefied natural gas (LNG), under which they signed a contract for the supply of the first 100 million cubic meters. The memorandum establishes long-term strategic cooperation between the companies and will enable Ukraine to create a more diversified gas supply system.
Naftogaz Group has contracted 1.5 billion cubic meters of gas since the beginning of the year: 800 million cubic meters were urgently imported at the beginning of the year, 400 million cubic meters will be delivered to Ukraine in preparation for the next winter, and another 300 million cubic meters of LNG were purchased by Naftogaz from Polish ORLEN.
“During the first quarter, Naftogaz managed to attract about EUR 430 million from the European Bank for Reconstruction and Development (EBRD) and the Government of the Kingdom of Norway, which will soon be used to purchase 1 billion cubic meters of imported natural gas,” said Roman Chumak, acting Chairman of the Board of Naftogaz of Ukraine. Roman Chumak, quoted by the group’s press service in a message on the Telegram channel.
According to him, the company is also negotiating with the government and international financial institutions to raise funding in the amount of EUR 1 billion to purchase more than 2 billion cubic meters of gas.
As reported with reference to the former head of the Ukrainian Gas Transmission System Operator (GTSOU), Serhiy Makohon, Ukraine, given its own production volumes, needs to import 5.5-6.3 bcm of gas by the start of the heating season on November 1, 2025, which will require approximately $2.5-3 billion. According to his estimates, by the beginning of the next heating season, it is necessary to have at least 9 bcm of reserves in the UGS facilities (without buffer gas), as this year’s experience has shown that starting the season with lower reserves is extremely risky.
In his turn, Dmytro Abramovich, a member of the Board and Commercial Director of Naftogaz Group, said in late March that Ukraine needs to import 4.5-4.6 billion cubic meters of natural gas by November 1 this year.
According to Makohon, the guaranteed capacity for gas imports is approximately 50 million cubic meters per day, so it will take three months to import 4.6 billion cubic meters of gas, and 5.6-6.3 billion cubic meters in 4 months, and this is at 100% utilization, which is commercially difficult to achieve.
Thus, he believes that in order to import the necessary volumes by November 1, it is necessary to start importing significant volumes of gas in May.
In March of this year, Naftogaz Group paid UAH 11.7 billion to the state budget, which is UAH 3.4 billion, or 41%, more than in the same period in 2024, the company said on Wednesday.
“Naftogaz enterprises continue to increase the amount of taxes paid. In March 2025, they paid UAH 11.7 billion, which is 7.3% of the total tax revenues to the state budget of Ukraine for this month,” the group said.
In particular, the group paid UAH 11.1 billion to the state budget, and another UAH 575 million was transferred to local budgets.
“Since the beginning of the year, the amount of taxes paid has already exceeded UAH 23.2 billion. Each contribution is an important component of strengthening our economic stability,” Naftogaz CEO Roman Chumak said as quoted in the report.
As reported, in February 2025, Naftogaz Group paid UAH 5.8 billion in taxes, which is 9.4% more than in the same period in 2024.
According to the results of 2024, Naftogaz Group companies paid UAH 88.6 billion in taxes to the general budget, including UAH 81.8 billion to the state budget and UAH 6.8 billion to local budgets.
In addition, in 2024, NJSC Naftogaz of Ukraine paid UAH 15.7 billion in dividends to the state.
In February of this year, Naftogaz Group paid UAH 5.8 billion in taxes, which is 9.4% more than in the same period in 2024, the company said on Thursday.
In particular, the state budget received UAH 5.2 billion, while in February 2024 this amount was UAH 4.8 billion. At the same time, UAH 530 million was paid to local budgets (UAH 506 million, respectively).
“Despite all the challenges of the war and constant attacks on the energy infrastructure, Naftogaz ensures the country’s energy stability and support for the national economy,” said Roman Chumak, the head of the group, as quoted in the report.
As reported, in the first month of 2025, Naftogaz Group companies paid UAH 5.2 billion in taxes to the state budget, which is 7.1% less than in January 2024 (UAH 5.6 billion). At the same time, tax payments to local budgets increased by 14.5% to UAH 591 million in January compared to the same period last year.
According to the results of 2024, Naftogaz Group companies paid UAH 88.6 billion in taxes to the general budget, including UAH 81.8 billion to the state budget and UAH 6.8 billion to local budgets.
In addition, in 2024, NJSC Naftogaz of Ukraine paid UAH 15.7 billion in dividends to the state.
