The National Bank of Ukraine has announced a requirement of $2.9bn (Hrv121.14bn) to fund gas imports in 2025, following significant damage to the country’s gas production facilities by Russian missile and drone attacks, reported Reuters.
The attacks, which occurred in late winter and early spring, targeted gas assets in eastern Ukraine, resulting in at least a 40% drop in production, although some capacity has since been restored.
The bank’s report indicates that while production is expected to gradually recover, it will not be enough to meet the domestic demands of the economy, including industry, utilities and households.
The anticipated shortfall necessitates substantial gas imports, although the bank predicts that the need for purchases may decrease to around $1.1bn in 2026 and roughly $400m in 2027.
In light of the situation, Ukraine’s state oil and gas company, Naftogaz, is in discussions with the government and international financial institutions to secure $1.1bn to procure more than two billion cubic metres (bcm) of gas for the /26 heating season.
Naftogaz recently signed a new agreement with Polish energy company Orlen for the supply of an additional 100 million cubic metres (mcm) of natural gas.
This marks the third deal under a long-term collaboration framework between the two entities, bringing the total US-sourced gas supplied to Ukraine to 300mcm.
The specifics of this year’s import volumes remain undisclosed, but the former head of the Ukrainian gas transit operator suggested that imports could reach up to 6.3bcm, as reserves are at a record low, the report said.
Currently, Ukraine is importing up to 10mcm of gas daily, actively replenishing its storage facilities.
