Ukrnafta and Wärtsilä, with the support of the Ministry of Energy of Ukraine and the Naftogaz Group, have launched a collaboration in the field of energy resilience.
During a meeting between First Deputy Prime Minister and Minister of Energy Denys Shmyhal and Petteri Orpo, a framework agreement was signed for the supply of complete equipment for modern gas piston power plants between Ukraine’s largest oil producer, JSC Ukrnafta, and the Finnish leader in energy technology manufacturing, Wärtsilä.
“This is one of the strategic projects aimed at strengthening Ukraine’s energy security amid constant Russian attacks on energy infrastructure. The lengthy negotiation process is achieving its goal,” emphasized Serhiy Koretskyi, Chairman of the Board of NJSC Naftogaz of Ukraine.
The purchase will be financed through preferential loans from the Finnish-Ukrainian Investment Facility (FUIF), guaranteed by the Finnish export credit agency Finnvera.
“The project will provide backup power for the company’s critical units. The surplus of generated electricity will be directed to meet the needs of the population and businesses within the country’s integrated power grid, which has been affected by Russian attacks,” noted Bogdan Kukura, Chairman of the Board of JSC “Ukrnafta.”
Modern, highly flexible gas equipment will enable Ukrnafta to additionally provide balancing services for the electricity market and significantly strengthen energy security in the regions.
JSC “Ukrnafta” is Ukraine’s largest oil production company and operates the country’s largest national network of gas stations—UKRNAFTA. In 2024, the company entered into an asset management agreement with Glusco. In 2025, it finalized a deal with Shell Overseas Investments BV to purchase the Shell network in Ukraine. In total, it operates nearly 700 gas stations.
The company is implementing a comprehensive program to restore operations and modernize the format of the gas stations in its network. Since February 2023, it has been issuing its own fuel vouchers and “NAFTACard” cards, which are sold to legal entities and individuals through Ukrnafta-Postach LLC.
The largest shareholder of “Ukrnafta” is NJSC “Naftogaz of Ukraine,” holding a 50%+1 share stake.
In November 2022, the Supreme Commander-in-Chief of the Armed Forces of Ukraine decided to transfer to the state the share of corporate rights in the company that belonged to private owners, which is now managed by the Ministry of Defense.
JSC Ukrnafta and the Finnish company Wärtsilä signed a framework agreement on the supply of complete equipment for gas piston power plants during a meeting between Finnish Prime Minister Petteri Orpo and the Ukrainian side, announced First Deputy Prime Minister and Minister of Energy of Ukraine Denys Shmyhal.
“Together with the Finnish-Ukrainian Investment Facility (FUIF) and JSC Ukrnafta, we are implementing a phased program to deploy distributed gas piston power generation,” he wrote on Telegram.
According to Shmyhal, as part of the first phase, an EUR 80 million loan from the EBRD has already been secured, a loan agreement has been signed, a state guarantee has been confirmed, and procurement is underway in accordance with EBRD procedures.
For the subsequent phases, Ukraine plans to use FUIF funding to scale up the program, specifically by installing gas piston power plants based on Wärtsilä equipment.
The First Deputy Prime Minister added that all relevant projects are aimed at promptly strengthening the energy security of the regions, balancing Ukraine’s integrated power grid, and securing critical infrastructure.
Energoatom has signed a memorandum of understanding in the field of nuclear energy with the world leader in production of diesel generator sets Wärtsilä, the press service of the operator of Ukrainian nuclear power plants (NPP) has reported. The memorandum gives a start to the direct cooperation of Energoatom with the French division of the Finnish company Wärtsilä – Wärtsilä Franc. Before the start of the negotiation process, Energoatom tenders for the supply of sets of spare parts for the Z40 diesel generator running at Yuzhnoukrainsk NPP were exclusively attended by intermediaries. The signing of the document is also important against the background of Energoatom’s plans to extend the operating life of the existing NPP units and the construction of new units, the press service stressed.
According to the Director General of Nuclear Service Wärtsilä France, the company has already submitted a tender offer for the supply of spare parts for Wärtsilä equipment working at Yuzhnoukrainsk NPP.
“This is an open tender and we understand the need to fulfill all requirements and procedures. We hope that our plans will become a reality and we will participate in servicing Ukrainian NPPs in the next 20-30 years, as well as in the work of the energy sector of Ukraine as a whole,” he said.
At the same time, Energoatom plans not to limit itself to contracts solely for the purchase of equipment, but also “create joint lines of business, in particular, in matters of service, repair of spare parts.”
