The Naftogaz Group raised UAH 2.445 billion in additional financing as part of a strategic partnership with the state-owned JSC Ukreximbank, the company said on Monday.
“This is another practical aid in preparation for the autumn-winter period. I would like to thank the Cabinet of Ministers and Ukreximbank for their support and trust,” said Serhiy Koretsky, chairman of the board of Naftogaz of Ukraine.
As the group recalled, Naftogaz, in partnership with Poland’s ORLEN, has already delivered about 400 million cubic meters of American liquefied natural gas to Ukraine in preparation for the winter of 2025-2026, which is carried out through two terminals – Świnoujście in Poland and Klaipėda in Lithuania. As of mid-September, a total of about 450 million cubic meters of American LNG has been contracted for delivery to Ukraine.
As of the end of last week, the total level of natural gas reserves in Ukrainian underground gas storage facilities (UGS) was 12.3 billion cubic meters (including 4.1 billion cubic meters of long-term storage gas, taking into account gas in temporarily uncontrolled territories, as well as 0.6 billion cubic meters of active long-term storage gas, which was transferred to the “buffer gas” category), which is 1% higher than last year (including 0.08 billion cubic meters of non-resident gas).
According to the Ukrainian Gas Transmission System Operator, since the beginning of September, net gas imports to Ukraine (excluding short-haul transit) have amounted to approximately 23-24 million cubic meters per day from Hungary, Poland, and Slovakia.
Last week, daily gas consumption in Ukraine fluctuated at 20-21 million cubic meters per day, which, according to AGSI (the European platform Agregated Gas Storage Inventory – IF-U), allowed more than 50 million cubic meters per day to be pumped into UGS facilities.
The Ministry of Energy of Ukraine plans to accumulate 13.2 billion cubic meters (or 8.6 billion cubic meters without taking into account “buffer gas”) by November 1, 2025, which, according to former OGTSU head Serhiy Makogon, is too low and will require additional imports of 1.5 billion cubic meters in winter.
As reported, the European Bank for Reconstruction and Development (EBRD) announced that, as part of the ESSF Energy Security Support Program, it will provide a guarantee to Ukreximbank to partially cover the credit risk on new loans to Ukrainian businesses for the implementation of various energy projects in the amount of EUR 100 million.
The bank’s board of directors approved the project on September 9, and it will cover up to 50% of the credit risk.
Ukreximbank is the third largest bank in Ukraine in terms of total assets as of mid-year, with UAH 318.6 billion (8.3% of the system’s total assets).
At its meeting on September 5, the Supervisory Board of Naftogaz of Ukraine dismissed Roman Chumak from his position as a member of the board.
According to a statement on the company’s website, Taras Pasazhko has been appointed as the new board member for the period from September 17 to December 17, 2025.
Pasazhko joined Naftogaz in June 2025 as Director of Strategy and Business Development, where he was responsible for transforming the corporate center’s operating model, reviewing the investment portfolio, implementing strategic development initiatives, and assessing the financial and economic condition of the business.
From 2018 to 2024, he was responsible for investment development, strategic planning, and financial analytics at Fozzy Group, then headed the strategy and organizational development department at Vitagro Group.
As reported, Serhiy Koretsky has headed the board of Naftogaz of Ukraine since May 2025, which also includes Oksana Volynets (director of legal and regulatory affairs of the group), Serhiy Fedorenko (commercial director), and Olena Artazei (director of human capital).
Chumak has been a member of Naftogaz’s board since the end of September 2021, and from December 2024 to the end of April 2025, he temporarily served as the company’s chairman.
Naftogaz Group companies paid UAH 44.4 billion in taxes in the first six months of 2025, of which UAH 40.7 billion went to the state budget, according to Serhiy Koretsky, chairman of the board of Naftogaz of Ukraine.
“In the first half of 2025, Naftogaz Group companies paid UAH 44.4 billion in taxes to budgets of all levels, which is almost 7% of all tax revenues to the country’s budget,” he said in a Facebook post on Friday.
He noted that of this amount, UAH 40.7 billion went to the state budget and another UAH 3.7 billion to local budgets.
“Supporting the financial stability of the state is an integral part of our responsibility as a company operating in a strategic sector of the economy,” Koretsky commented.
As reported, the consolidated revenue of the Naftogaz Group in 2024 increased by 22.0% to UAH 298.75 billion, and net profit by 63.9% to UAH 37.91 billion.
In accordance with the decision of the Cabinet of Ministers, Naftogaz of Ukraine transferred UAH 10.4 billion in dividends for 2024 and income tax to the state budget.
As the company reported on Tuesday, the rest of the profit, in accordance with the government’s order, will be used to prepare the country for winter, in particular to purchase imported gas.
“I would like to thank all employees for the result. Thanks to your conscientious work, Naftogaz remains a reliable partner of the state, fulfilling all obligations imposed by the Ukrainian government in a timely and complete manner,” said Serhiy Koretsky, chairman of the board of Naftogaz Ukraine, whose words are quoted in the statement.
As reported, the Cabinet of Ministers of Ukraine, by order No. 410-r of April 29, 2025, ordered to allocate 30% of the profits of Naftogaz of Ukraine to dividends in the state budget.
“To approve (…) consolidated profits in the amount of 37 billion 906 million 640.18 thousand hryvnias, according to the consolidated financial statements of Naftogaz of Ukraine for 2024, of which the profit attributable to the shareholder of Naftogaz of Ukraine amounts to 29 billion 421 million 763.674 thousand hryvnias (…)”, the document said, in particular.
According to the government decision, 30% of the specified profit of Naftogaz, amounting to UAH 8.826 billion, is subject to payment of dividends to the state budget. Another 70% (UAH 20.595 billion) was allocated by the Cabinet of Ministers for statutory purposes, in particular 45% of the profit belonging to the shareholder of Naftogaz of Ukraine, amounting to UAH 13.239 billion, for the purchase of imported natural gas and financing measures to prepare for the autumn-winter period of 2025/26.
Ukrgasbank provided Naftogaz of Ukraine with a loan of UAH 4.7 billion for gas purchases, according to the company’s CEO Serhiy Koretsky.
“We are continuing to prepare for winter – another important step has been taken. Naftogaz has signed a loan agreement with Ukrgasbank (UGB) for UAH 4.7 billion. The funds received are already being used to purchase natural gas to build up sufficient reserves in underground gas storage facilities so that the country will be provided with energy resources this winter,” Koretsky wrote on his Facebook page on Thursday.
He expressed his gratitude to the management of Ukrgasbank and the government for their support.
As reported, on July 23, PrivatBank provided Naftogaz with the same loan of UAH 4.7 billion, which was the first for the company and the largest energy loan from the bank since the start of the war.
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.
