EIB provides financing to Naftogaz for energy system resilience
By Global Infrastructure Sherpa · Jan 29, 2026
The EIB provides €50 million in financing to Naftogaz to support Ukraine's energy system resilience by importing natural gas, with Naftogaz committing to reinvest an equivalent amount into renewable energy and decarbonisation projects.
Deal Analysis
The European Investment Bank (EIB) is providing €50 million in financing to Naftogaz, Ukraine's national oil and gas company, to bolster the country's energy system resilience through natural gas imports. A key component of the agreement is Naftogaz's commitment to reinvest an equivalent amount into renewable energy and decarbonisation projects. This financing aims to address immediate energy security needs while simultaneously promoting longer-term sustainable energy development within Ukraine.
This deal is notable for its dual focus on immediate energy security and long-term decarbonisation. The involvement of the EIB, the lending arm of the European Union, underscores the EU's commitment to supporting Ukraine's energy sector. The structure of the financing, requiring reinvestment in renewables, signals a strategic effort to transition towards a more sustainable energy mix. This transaction is particularly relevant given the ongoing geopolitical context and the need to ensure stable energy supplies for Ukraine.
- €50 million financing from EIB to Naftogaz.
- Focus on supporting Ukraine's energy system resilience.
- Naftogaz commitment to reinvest equivalent amount in renewable energy and decarbonisation.
- Involvement of the EIB highlights EU support for Ukraine's energy sector.
Market Context: The deal occurs within the context of Ukraine's energy sector, which is currently facing significant challenges related to energy security and the need for decarbonisation. The transmission sector is critical for ensuring reliable energy supply, and investments in renewable energy are essential for achieving long-term sustainability goals.
Source Intelligence
KEY DETAILS
The operation builds on the EIB’s earlier €300 million loan to Naftogaz, as well as the broader €127 million EU grant support for gas procurement enabled by the Government of Norway through its Ukraine Investment Framework contribution.
Naftogaz commits to reinvesting an amount equivalent to the EIB financing into renewable energy and decarbonisation projects.
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Deal Size
EIB provides an additional €50 million to Naftogaz to keep Ukraine’s energy system resilient through winter
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Location
EIB provides an additional €50 million to Naftogaz to keep Ukraine’s energy system resilient through winter
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Signing
The European Investment Bank (EIB), the bank of the European Union, has signed long-term financing of €50 million with Ukraine’s state-owned energy utility, Naftogaz
PARTIES MENTIONED IN SOURCE
E
EIB
lender
"The European Investment Bank (EIB), the bank of the European Union, has signed long-term financing of €50 million with Ukraine’s state-owned energy utility, Naftogaz"
N
Naftogaz
buyer
"The European Investment Bank (EIB), the bank of the European Union, has signed long-term financing of €50 million with Ukraine’s state-owned energy utility, Naftogaz"
E
European Commission
funder
"Backed by the European Commission under the EU’s Ukraine Investment Framework."
G
Government of Norway
funder
"as well as the broader €127 million EU grant support for gas procurement enabled by the Government of Norway through its Ukraine Investment Framework contribution."
high quality
Enriched Feb 19, 2026
Market Context
This deal is part of the Transmission sector in Ukraine.
1 of 139 Transmission deals tracked this month · Updated daily
Global Infrastructure Sherpa