Naftogaz and Hungary’s MOL sign memorandum on creating strategic fuel reserves for Ukraine

The document provides for the joint development and potential implementation of the project, whose facilities will be designed to meet the needs of the Ukrainian market.

Amid ongoing Russian attacks on our fuel infrastructure, diversifying supply routes and creating additional storage capacity beyond the reach of attacks are vital to the stability of the entire market. In the longer term, implementing this joint project will not only enhance the reliability of fuel supplies to Ukrainian consumers, but also contribute to the mutually beneficial development of cross-border energy infrastructure between Ukraine and Hungary,” said Sergii Fedorenko, Acting Chief Executive Officer of Naftogaz.

Naftogaz continues to work with international partners on solutions that strengthen Ukraine’s energy security.