Netherlands backs Ukraine's Naftogaz with €23M grant for winter gas
What's the deal? The European Bank for Reconstruction and Development (EBRD)Dealroom has a profile for this one. Try Dealroom → and Naftogaz GroupDealroom has a profile for this one. Try Dealroom → have signed a €23 million grant agreement funded by the Government of the NetherlandsDealroom has a profile for this one. Try Dealroom →. The energy company will use the money to buy additional natural gas during periods of peak demand this winter.
Why now? Russian attacks on Ukraine's gas production infrastructure have intensified ahead of the heating season. Naftogaz said strikes on its facilities had exceeded 400 this year, even as storage reached a six-year high of 16 billion cubic metres.
How big is it? Among all-time grant rounds in Ukraine, this €23 million deal ranks in the 99th percentile by size across a sample of 597 — placing it near the top of grants directed at the country.
What's the context? The grant sits alongside other emergency support, including Norway's €85 million grant for Naftogaz gas purchases and a €500 million EBRD loan for the same purpose. It is a targeted contribution to peak-season supply rather than a deal large enough to shift the overall picture.
"The enemy is systematically targeting gas production infrastructure in an attempt to deprive Ukrainians of heat," said Sergii Fedorenko, acting chief executive officer of Naftogaz Group. "Additional funding for gas purchases will strengthen the resilience of the energy system and help ensure a stable heating season."
Arvid Tuerkner, EBRD managing director for Ukraine and Moldova, called the Netherlands "a steadfast partner" in efforts to ensure Ukraine's energy security. The contribution will be provided alongside the Bank's own financing for gas purchases.
The signal: Since Russia's full-scale invasion in 2022, the EBRD has deployed more than €3.6 billion to support Ukraine's energy security. The Dutch grant shows how donors and development banks are now stacking grants and loans to keep Ukraine's gas flowing through each winter.
Read more: news.goalfore.com
Image credit: Ken Lund
