Naftogaz reaches agreement with Equinor to buy 350 mcm of gas

MOSCOW. Dec 26 (Interfax) - Ukraine's Naftogaz last week agreed to buy 350 million cubic meters of gas from Norway's Equinor while another 100 mcm was purchased on the market, Ukrainian media quoted the national oil and gas company's chief, Alexei Chernyshov, as saying.

"Naftogaz [last week] secured almost half a billion cubic meters of gas. We are talking about approximately 350 mcm from our partner, Norway's Equinor. And also about 100 mcm that we bought on the market from sellers authorized by the EBRD," he wrote on social media.

He said the next goal was to obtain additional gas to generate electricity, the need for which has arisen due to disruption of the energy infrastructure in Ukraine.

"Following these purchases, this volume is less than 2 billion cubic meters. We continue to work on this," he said.

Chernyshov has said funding of $300 million from the EBRD, $350 million from Canada and $200 million from Norway would enable the company to buy around 500 mcm of gas in January-February.