Ukraine’s state-owned Naftogaz Group has signed an agreement for the supply of natural gas from the State Oil Company of Azerbaijan Republic (SOCAR) via the Transbalkan route.
“For the first time, a test shipment of gas is being delivered through the Transbalkan route along the Bulgaria-Romania-Ukraine corridor”, Naftogaz said in a statement online.
It did not disclose the volume but chief executive Sergii Koretskyi said, “This is a small volume but strategically important step that paves the way for long-term cooperation”.
“It is also another example of diversifying supply sources and strengthening Ukraine’s energy security”, Koretskyi added.
Ukraine’s Energy Ministry said separately the Transbalkan network “is of exceptional significance for Ukraine, as it provides access to new gas sources: liquefied natural gas delivered from around the world to Greek and Turkish LNG terminals; Azerbaijani gas transported via the TAP pipeline; as well as Romanian and potentially Bulgarian offshore gas production”.
The ministry said May the gas transmission operators of Ukraine, Bulgaria, Greece, Moldova and Romania agreed to allot the unused capacity of the Transbalkan corridor for the delivery of gas to Ukraine at a “competitive tariff”.
In other efforts to secure gas for Ukraine, Naftogaz said last week it had signed loans totaling UAH 9.4 billion ($224.63 million) from local banks JSC CB PrivatBank and PJSC JSB Ukrgasbank, which committed UAH 4.7 billion each. “At the same time, we continue to work with international financial institutions and partner countries”, Koretskyi said.
The funds will be used to stock underground storage facilities for the 2025-26 heating season, Naftogaz said.
Last April the European Bank for Reconstruction and Development (EBRD) said it had agreed to lend EUR 270 million ($312.71 million) to Naftogaz, complemented by a EUR 139 million grant from the Norwegian government. These will be used to buy nearly one billion cubic meters (35.31 billion cubic feet) of gas, Naftogaz said separately at the time.
“Naftogaz has been the recipient of two previous EBRD loans for a total of EUR 500 million, backed by EUR 275 million in guarantees from the United States, Norway, Germany, France, Canada and The Netherlands, and complemented by earlier grant finance from Norway of EUR 187 million for emergency gas purchases”, the EBRD said April 25.
“The latest agreement lifts EBRD finance for Naftogaz to EUR 770 million since 2022.
“Norway’s latest grant finance brings its total wartime energy sector-focused support for Ukraine through the EBRD to EUR 460 million”.
On July 2 Naftogaz and ORLEN SA said the Polish state-backed company agreed to supply an additional 140 million cubic meters of liquefied natural gas (LNG) from the United States to Ukraine.
This is the fourth LNG supply contract signed by the companies this year, bringing Naftogaz’s total contracted gas volumes from ORLEN to 440 million cubic meters, Naftogaz said.
The contracts are part of a cooperation pact signed by ORLEN and Naftogaz last March to diversify Ukraine’s gas supply sources, ORLEN said separately.
Currently Ukraine’s storage facilities hold 51.52 terawatt hours of gas, or are 16.04 percent full, according to the online tracking dashboard of the European Network of Transmission System Operators for Gas, which uses GIE AGSI data.
To contact the author, email jov.onsat@rigzone.com
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