Norway provides $100 million for the purchase of natural gas by Ukraine

The Norwegian government announced on Friday that it would donate 1 billion crowns (98.29 millions dollars) to Ukraine in order to purchase natural gas before winter.

After Russian missiles damaged the production facilities to the east of Ukraine, Ukraine was forced to increase its gas imports.

Analysts claim that Ukrainian gas reserves have dropped to their lowest level in 12 years. Storage facilities are currently less than one-third full.

Svitlana Hynchuk, Ukrainian Energy Minister said that the timely and systematic support provided by Norway is essential for Ukraine's energy safety.

She added that the funds will be used to purchase natural gas from the international market by the state-run Naftogaz company to ensure sufficient reserves of gas ahead of heating season.

According to ExPro, an analyst from this month, Ukraine has 10 billion cubic meters of gas stored underground as of August 5. One bcm was pumped into storage over the past 19 day.

The Ukrainian energy ministry said that the country requires around 13 bcm in gas storage for the winter.

(source: Reuters)