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Naftogaz to receive grant from European Investment Bank to develop decarbonisation strategy

The EU has clear requirements and standards for emissions from gas and oil production, storage and transportation.

Naftogaz to receive grant from European Investment Bank to develop decarbonisation strategy
Tereza Chervinska and Oleksiy Chernyshov. Signing of the agreement between Naftogaz and the EIB
Photo: Naftogaz Group

The European Investment Bank will provide a technical assistance grant to develop a decarbonisation strategy for Naftogaz Group.

This is stated on the Naftogaz website.

The agreement was signed during the Ukraine Recovery Conference in Berlin by Naftogaz CEO Oleksiy Chernyshov and EIB Vice President Teresa Chervinska. 

Chernyshov noted that cooperation with the EU directly depends on Ukraine's responsible approach to emissions during the production, storage and transportation of gas and oil, as there are clear standards and requirements for this.

By investing in a variety of energy projects, such as solar and wind power, biomethane, and other green initiatives, Naftogaz will be able to increase its energy resilience. 

‘Diversification of energy resources will provide a buffer against market fluctuations and war-related risks, as well as support the sustainable development and transformation of Ukraine's energy sector,’ Chernyshov said.

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