Norway to provide nearly US$95m for gas procurement for Ukraine

Norway is allocating an additional NOK 1 billion (nearly €90 million or US$95 million) to finance gas imports to Ukraine to ensure adequate gas supplies for the country’s population, businesses and industry.

Source: a statement by the Norwegian government, as reported by European Pravda

Quote from Norway’s Prime Minister Jonas Gahr Støre: "A more secure energy supply is essential to Ukraine’s resilience. This was one of the topics discussed during President Zelenskyy’s visit to Norway last week. There is an urgent need for increased funding for gas imports to provide power and heating for homes, businesses and public institutions. Norway is doing its part to meet this need."

Details: The new funding will be channelled through the European Bank for Reconstruction and Development (EBRD) and will be used to purchase gas from Western sources. The recipient of the gas will be the Ukrainian state-owned company Naftogaz.

The imported gas will be used to meet consumption needs and increase gas reserves in case of further attacks on gas infrastructure. The funding is provided under the Nansen Support Programme for Ukraine, with NOK 1 billion drawn from allocations for Ukraine’s energy sector in 2025.

Further international support is crucial for protecting Ukraine’s energy system.

"Attacks on the Ukrainian power supply are, and have been, an attack on the very core of Ukrainian society. They are part of an attempt to weaken the Ukrainian economy and undermine the Ukrainian people’s trust in their Government. This is why it is both crucial and of strategic importance to help to maintain access to gas," said Norwegian Foreign Minister Espen Barth Eide, who is visiting Ukraine this week.

The additional allocation increases Norway’s total contribution to Ukraine’s gas procurement since 2022 to NOK 3.6 billion (about US$341.8 million).

In 2023, NOK 635 million (about US$60.2 million) were allocated as a guarantee for gas procurement. These funds have now been released and can be used to increase the total contribution. Thus, the overall amount of the agreement now stands at NOK 1.635 billion (about US$155.2 million).

"We do not yet know how much gas Ukraine will need to import this year, but Norway’s contribution will put Ukraine in a better position to tackle the impacts of renewed attacks from Russia and make the necessary preparations for the next winter," Eide said.

The EBRD has been cooperating with Naftogaz for several years, particularly in corporate governance. Channelling funds through the EBRD helps mitigate risks such as corruption and financial mismanagement.

Background:

• On 12 March, it was reported that Norway is allocating €16 million for infrastructure and energy efficiency projects in several oblasts of Ukraine as part of the reconstruction process.
• Earlier, the Norwegian parliament decided to increase aid to Ukraine by US$4.6 billion to US$7.8 billion in 2025.

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