The European Investment Bank (EIB) has awarded a €400,000 grant to Naftogaz, Ukraine’s national oil and natural-gas company, to support the development of a comprehensive decarbonization strategy.
This technical assistance, funded by the EIB’s EU for Ukraine advisory programme, will help Naftogaz align its operations with EU climate policies.
Strategic Roadmap for Cleaner Energy
Naftogaz will outline a series of actions to develop cleaner energy sources, reduce greenhouse gas emissions, improve energy efficiency, and expand renewable energy production.
This strategy will encompass the entire value chain of Naftogaz’s operations, considering the climate impact of its products from source to consumption.
A Significant Step Towards a Sustainable Energy Future
Teresa Czerwińska, EIB Vice-President responsible for Ukraine, emphasized the significance of this agreement, stating, “This cooperation agreement marks a significant step forward in Ukraine’s path towards a sustainable and resilient energy future and underscores our commitment to the country’s green transition. As the EU climate bank, the EIB is proud to support Naftogaz in its decarbonization efforts.”
Czerwińska and Naftogaz CEO Oleksiy Chernyshov signed the agreement during the Ukraine Recovery Conference in Berlin, highlighting the importance of decarbonizing Ukraine’s energy sector as part of the country’s broader rebuilding efforts.
Naftogaz’s Commitment to Energy Diversification and Sustainability
Oleksiy Chernyshov expressed his gratitude for the EIB’s support, emphasizing the critical role of a decarbonization strategy for Naftogaz.
He acknowledged the challenges of balancing the immediate need for energy supply with the long-term goal of joining the European Union. “Diversifying energy resources will provide a buffer against market fluctuations and risks associated with the war, as well as support the sustainable development and transformation of Ukraine’s energy sector,” Chernyshov said.
This collaboration between the EIB and Naftogaz represents a significant step towards a greener and more sustainable energy future for Ukraine, positioning the country for a successful transition towards cleaner energy sources and reduced emissions.