Naftogaz Secures Technical Assistance Grant for Decarbonization Strategy – Agreement Signed with EIB

The European Investment Bank (EIB) will provide technical assistance funding to develop the decarbonization strategy for the Naftogaz Group.

The agreement was signed by the Chairman of the Board of NJSC Naftogaz of Ukraine, Oleksiy Chernyshov, and EIB Vice-President Teresa Czerwińska on the sidelines of the Ukraine Recovery Conference in Berlin. 

We are very grateful to our partners at the EIB for their support, as having a decarbonization strategy is crucial for Naftogaz. We are currently balancing between the immediate challenge of supplying the country with the necessary energy resources and moving towards the future – joining the European Union. Cooperation with the EU directly depends on how responsibly we approach emissions during the processes of gas and oil extraction, storage, and transportation. There are clear standards and requirements for this," said Oleksiy Chernyshov.

Additionally, by investing in various energy projects such as solar and wind energy, biomethane, and other "green" initiatives, Naftogaz will be able to enhance its energy resilience. "Diversifying energy resources will provide a buffer against market fluctuations and risks associated with the war, as well as support the sustainable development and transformation of Ukraine's energy sector," emphasized the head of the Naftogaz Group.

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