Naftogaz Group said Wednesday it will continue delivering natural gas to households in Ukraine at the current regulated rate under its fixed tariff plan.
The price will remain at UAH 7.96 ($0.19) per cubic meter until April 2026 to reflect the current moratorium on raising natural gas tariffs, the state-owned oil and gas company said in an online statement.
However, the company added, “Naftogaz also encourages consumers to pay their bills on time”. Acting chief executive Roman Chumak added, “These payments help maintain the country’s energy stability in the face of ongoing attacks on critical infrastructure”.
“Supplying gas to households remains a core priority. We continue to ensure stable delivery and meet our obligations to consumers, even in the most critical conditions”, said Chumak.
Naftogaz said it remains a reliable gas supplier for 12.5 million households. According to the company it led Ukraine through last winter without gas blackouts.
“Risks peaked in February, when large-scale Russian missile attacks on gas production facilities led to the sudden loss of nearly half of the state’s output. These events created a perfect storm that could have caused a nationwide gas blackout at any moment”, according to a company report Monday that said 34 of Naftogaz’s gas production sites had been attacked in 2024-25. Rigzone tried to verify the scale of the reported attacks via comment requests to the Russian government, sent via official online portals, but has not received a reply.
The report said for next winter Naftogaz has contracted 400 million cubic meters of gas. “Since the beginning of the year, 1.5 billion cubic meters of gas have been contracted: 800 million cubic meters were urgently imported early in the year, 400 million cubic meters will be delivered to Ukraine as part of the winter readiness plan”, Chumak said. “In addition, Naftogaz purchased 300 million cubic meters of LNG from ORLEN”.
Naftogaz had signed an LNG cooperation deal with Poland’s majority state-owned ORLEN SA to help Ukraine diversify its energy supply. “The agreement is a framework arrangement aimed at strengthening cooperation to enhance Ukraine’s energy security through the diversification of gas supply sources and routes to the country”, ORLEN said in a press release March 7.
Chumak added a further 1 billion cubic meters would “soon” be imported into Ukraine using EUR 430 million ($489.62 million) from Norway and the European Bank for Reconstruction and Development (EBRD).
Chumak also said, “The company is also in talks with the Government and international financial institutions to raise an additional EUR 1 billion to buy over 2 billion cubic meters of gas”.
Additionally Naftogaz is working to enable this year an additional 177 megawatts of capacity for backup power, enough to supply more than 500,000 Ukrainians, according to Chumak.
Naftogaz has said despite attacks it continues to be a key contributor to Ukraine’s budget. It paid UAH 88.6 billion in taxes in 2024. Additionally it remitted UAH 15.7 billion in dividends to the state for last year, as reported by the company January 10, 2025.
Naftogaz’s latest earnings report showed it had UAH 24.4 billion in net consolidated profit for the first half of 2024, up nearly four times compared to the same period 2023.
Naftogaz’s consolidated operating profit for January-June 2024 was UAH 28.9 billion, more than double the UAH 14 billion generated for the same period 2023.
“Naftogaz Group’s significant improvements in financial results were driven primarily by increased revenues from the sale of gas, oil, petroleum products, and natural gas distribution services”, it said September 26, 2024.
Naftogaz ended the period with UAH 227.86 billion in current assets including UAH 86.17 billion in cash and bank balances. Its current liabilities totaled UAH 144.83 billion including UAH 50.15 billion in borrowings.
In 2024 Naftogaz produced 13.9 billion cubic meters (490.87 billion cubic feet) of gas, up from 13.2 Bcm in 2023.
To contact the author, email jov.onsat@rigzone.com
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