Norway allocates 1.5 bln kroner to secure gas, electricity supply to Ukraine

MOSCOW. Aug 24 (Interfax) - The Norwegian government has decided to allocate 1.5 billion Norwegian kroner to fund imports of natural gas and electricity to Ukraine.

"The Ukrainian authorities need our help to ensure electricity and heating for homes, businesses, and government institutions ahead of another winter," Ukrainian media quoted Norwegian Prime Minister Jonas Gahr Store as saying in a statement circulated by the Norwegian government press service.

The money is to be channeled through the European Bank for Reconstruction and Development (EBRD). Part of the funding (865 million Norwegian kroner) is to be intended for repairs and maintenance of critical electricity infrastructure and emergency power supply, and the other part (635 million Norwegian kroner) is to finance the purchase of gas for emergency storage. This support is to be provided under the Nansen program.

"Owing to our support in the amount of 2 billion Norwegian kroner for gas purchases in 2022, Norway financed about one-third of Ukraine's gas import needs last year. We do not know yet how much gas Ukraine will have to import this year, but with Norway's contribution, Ukraine is better prepared for a cold winter," Gahr Store said.

Support from Norway comes to the Ukrainian state companies Ukrenergo and Naftogaz via the EBRD to reduce risks, including corruption and fraud.

In 2022, Norway provided Ukraine with about 10.7 billion Norwegian kroner in civilian and military support. The Norwegian government has reserved about 18.5 billion Norwegian kroner for such support in 2023.