Grant Agreement with the EBRD
During the 2026 Ukraine Recovery Conference, Ukrnafta signed a grant agreement with the European Bank for Reconstruction and Development (EBRD). The deal provides €44.6 million in funding for the company's project titled 'Support for Critically Needed Distributed Generation.' This grant, issued through the EBRD’s Special Fund for Crisis Response, will finance the procurement and installation of gas piston units at Ukrnafta’s production sites. These new facilities are expected to deliver a combined electrical capacity of approximately 62 MW.
The grant complements an existing €80 million concessional loan from the EBRD already secured for the distributed generation development project. Ukrnafta stated that this financing will accelerate the implementation of vital energy projects and strengthen the reliability of power supply amid ongoing Russian aggression.
“Developing distributed generation is a top priority for the Naftogaz Group in bolstering Ukraine’s energy resilience. I am grateful to the EBRD for its consistent support and partnership,” said Serhiy Koretskyi.
Rise in Petroleum Product Sales
Additionally, in the first quarter of 2026, Ukrnafta boosted sales of light petroleum products by 49% compared to the same period last year. Specifically, gasoline throughput increased by 31%, while diesel fuel sales rose by 75%. Poland’s Orlen oil and gas group has also expressed interest in expanding its footprint in the Ukrainian market and is considering acquiring a stake in Ukrnafta.
The EBRD financing marks a critical step in supporting Ukraine’s energy infrastructure, which has suffered extensive damage from the war. Advancing distributed generation can significantly enhance the country’s energy independence and reduce its vulnerability to external threats. Moreover, the growth in petroleum product sales signals a market recovery and the potential to attract foreign investment, which could positively impact Ukraine’s overall economy.
In light of Ukrnafta's recent advancements in energy generation, it is noteworthy that Poland's Orlen is exploring opportunities to invest in Ukrnafta. This potential acquisition could further enhance the company's capabilities and contribute to strengthening Ukraine's energy sector amidst ongoing challenges.