• Norway agrees to contribute over $200 million to assist Ukraine in purchasing natural gas this winter.
• The European Bank for Reconstruction and Development (EBRD) will “route” the funding.
• Payments will be made directly to European gas suppliers “that have received prior approval”.

Norway has inked an agreement to contribute cash of over $200 million to assist Ukraine in purchasing natural gas this winter, according to a statement released by the Norwegian government on Monday.

The European Bank for Reconstruction and Development will “route” the 2 billion Norwegian Kroner ($195 million) in funding (EBRD).

According to the announcement, it is a portion of a 10 billion Norwegian kroner ($976 million) package that Norway’s government would give to Ukraine in 2022 and 2023.

“Ukraine has specifically asked Norway for support for the procurement of natural gas this winter. The timing is critical, and we are very pleased that the EBRD is to be our partner in carrying out gas purchases,” Norwegian Minister of Finance Trygve Slagsvold Vedum said in the statement.

“It is important to channel the support through an established, internationally recognized organization, which will ensure effective and transparent use of the funding,”

The Ukrainian state-owned energy company Naftogaz will be the “formal recipient of the gas” in Ukraine, whilst payments will be made directly to European gas suppliers “that have received prior approval,” the statement added. 

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