Ukraine's Naftogaz working to secure funds from U.S. companies to boost LNG imports

MOSCOW. Nov 26 (Interfax) - Ukraine's Naftogaz has secured 70% of the money needed to fund gas imports for the heating season mainly from European financial institutions and is working to secure the remaining 30% from U.S. government lenders and finance corporations, including the Development Finance Corporation (DFC) and EXIM, Naftogaz CEO Sergei Koretsky said.

"We have secured 70% of the money needed [for gas imports] mostly through European loans and grants. We are trying to obtain the remaining 30% from DFC, EXIM and other U.S. government agencies," Ukrainian media quoted Koretsky as saying in a commentary for AP.

The damage to oil and gas facilities has considerably reduced Ukraine's extraction capabilities, meaning that Ukraine needs to import an additional 4.4 billion cubic meters (bcm) of gas for the winter.

It was said that Naftogaz is constantly importing gas in equal amounts today.

As reported, Naftogaz Group and the Polish Orlen energy company finalized an agreement on November 21, 2025 to deliver 300 million cubic meters (mcm) of U.S. liquefied natural gas (LNG) to Ukraine in the first quarter of 2026, while overall imports of U.S. LNG are due to reach 1 billion cubic meters (bcm) next year.

Naftogaz has imported over 400 mcm of U.S. LNG since the beginning of 2025 in a partnership with Orlen. This year, 600 mcm of U.S. LNG will be supplied to Ukraine under the agreement with Orlen.

In April 2025, Naftogaz received a loan of 270 million euros from the European Bank for Reconstruction and Development (EBRD) under government guarantees to form strategic gas reserves. Norway added a grant of 139 million euros.

Naftogaz later received a 500-million-euro loan from the EBRD under European Commission guarantees. The company also received a European Investment Bank loan of 300 million euros under European Commission guarantees in early October. It was also reported that the EBRD was preparing an additional financing package of 500 million euros for Naftogaz to fund urgent gas imports.

Naftogaz has also secured UAH 3 billion from Oschadbank, UAH 2.45 billion from Ukreximbank, and UAH 4.7 billion from Ukrgasbank and PrivatBank each.

In August this year, the Norwegian government provided NOK 1 billion ($98.3 million) to Ukraine to fund purchases of natural gas.

Naftogaz Group has allocated $1 billion of its own funds to buy gas during the winter.

National Bank of Ukraine Governor Andrei Pyshny said on October 18 that 55% of Ukraine's gas extraction capacity is currently unavailable because of damage to energy infrastructure.