Shmyhal: Ukraine seeks €400M to finance gas imports

Ukraine's state energy company Naftogaz requires approximately €400 million in additional funding to purchase natural gas, with Kyiv counting on international support to cover the costs, First Deputy Prime Minister and Energy Minister Denys Shmyhal said on Telegram, Report informs.

Shmyhal said the Ukrainian government is currently seeking partners willing to finance gas imports as the country prepares for the upcoming heating season.

He also noted that the uncovered funding needs of the Ukraine Energy Support Fund exceed €507 million.

"We are expanding the work of our diplomats to attract assistance through this mechanism. In addition, Ukrainian energy companies require €600 million in financing to stabilize the balancing market," Shmyhal said.

The minister added that Ukraine is continuing to build an emergency reserve of energy equipment ahead of winter. He said the country has already received more than 3,300 tonnes of energy equipment from decommissioned European thermal power plants and is also expecting additional deliveries from Latvia.

Shmyhal said Kyiv plans to strengthen coordination with international partners during the fifth meeting of the Energy Ramstein format.

"The agenda includes partners' proposals for the fifth Energy Ramstein meeting. We need to strengthen coordination and expand the circle of participants," he said.