Ukraine’s Naftogaz Group and Poland’s ORLEN SA have signed another energy collaboration agreement, after an earlier one that aims to help the war-hit country secure natural gas supply.
Under the new memorandum of understanding, “the parties will seek to increase natural gas deliveries via Poland to Ukraine and to advance joint projects in oil and gas extraction”, ORLEN said in an online statement. “These initiatives are expected to strengthen Ukraine’s resource security and flexibility.
“Naftogaz also stands to benefit from ORLEN’s technical expertise in the modernization of the Kremenchuk oil refinery, as well as in the refurbishment of gas infrastructure damaged during the war.
“In addition, both companies intend to pursue joint investment projects across fuel distribution and development of the biofuels segment”.
ORLEN added it currently supplies Ukrainian customers with refined oil products including gasoline, diesel and bitumen.
The state-owned companies previously penned a liquefied natural gas (LNG) agreement. “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.
The LNG agreement has contracted 300 million cubic meters (10.59 billion cubic feet) of gas for Ukraine.
Meanwhile Naftogaz is intensifying negotiations with international financial institutions to help Ukraine buy enough gas for the heating season.
Discussions were held with representatives of the European Investment Bank, the International Monetary Fund and the European Commission, Naftogaz said Friday.
“[W]e have made significant progress in attracting additional financing”, new chief executive Sergii Koretskyi said.
On April 28 the company said it had secured a EUR 270 million ($308.62 million) loan from the European Bank for Reconstruction and Development and a EUR 140 million grant from the Norwegian government to buy nearly one billion cubic meters of gas.
On April 21 Naftogaz said it had contracted 400 million cubic meters of gas for next winter. “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”, it said.
It said it is working to enable this year an additional 177 megawatts of capacity for backup power, enough to supply more than 500,000 Ukrainians.
Naftogaz has 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.
To contact the author, email jov.onsat@rigzone.com
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