Connection

popular articles

BYD: Half-year profit up 24.4% despite price war
Bolivia: YPFB seeks funding to revitalize the oil and gas sector
ExxonMobil launches Hammerhead Oil Project in Guyana
India: Petronet LNG adopts Novolen technology to boost production
Engie and Macquarie join forces to extend Mexico’s Mayakan gas pipeline

EBRD finances Ukraine’s energy sector

The EBRD approved a financing package that will provide $372 million to assist the Ukrainian power transmission company, Ukrenergo.

Please share:

The EBRD approved a financing package that will provide $372 million to assist the Ukrainian power transmission company, Ukrenergo.

European funding

THE EBRD (European Bank for Reconstruction and Development) indicates that the aid will be used for emergency repairs. Thus, it will serve to maintain the stability of the country’s energy system as winter approaches. In addition, the bank condemns the strikes against civilian infrastructure.

The EBRD will provide a €300 million sovereign guaranteed loan with two components. Up to €150 million is intended for the purchase of equipment to carry out repairs on the Ukrainian electricity transmission system. An additional €150 million consists of support for the capital structure.

Emergency assistance

In addition, the Netherlands will supplement the EBRD’s emergency assistance up to €72 million. This additional assistance will be used to support the immediate restoration needs of Ukrenergo’s transmission infrastructure. Odile Renaud-Basso, EBRD’s president, says:

“Urgent repairs to the Ukrainian power grid are an immediate priority for EBRD. The people and businesses of Ukraine need continued access to electricity through the winter. With this important funding, we will help Ukrenergo make rapid emergency repairs to damaged equipment, high voltage substations and transmission lines. It will ensure the continued provision of vital electricity transmission services during the heating season for Ukrainian households, businesses and communities.”

EBRD has been involved in promoting economic transition in Ukraine for about 30 years. The bank’s assistance complements that of other international financial institutions. Funding is also directed to trade to maintain the flow of essential goods, food security and vital infrastructure.

A plan for the future

Until now, the EBRD provided more than 1 billion euros to Ukraine as part of emergency liquidity financing. The bank is committed to paying up to €3 billion over the period 2022-2023. The aim is to help Ukrainian businesses and the economy to continue to function.

Ukraine is one of the main beneficiaries of the EBRD. Its assistance is aimed at ensuring the country’s resilience in the context of conflict. Finally, these measures will be combined with a reconstruction plan when circumstances permit.

 

Register free of charge for uninterrupted access.

Publicite

Latest news

North Macedonia: A Strategic Partnership with SOCAR for Energy Security
Strategic Partnership Between SEFE and Eletrobras for Green Hydrogen Supply
Increase in Premiums for 2025 LNG Contracts Following Trump’s Victory
Six new countries commit to tripling global nuclear production by 2050
Towards Methane Regulation Convergence: U.S. and European Union Collaborate

Recently published in

Russia and Cuba: Strengthening Energy Cooperation Amid Hurricanes and Crises

Cuba, hit by two hurricanes and an acute energy crisis, receives enhanced support from Russia, including financial aid, equipment, and an educational partnership to develop its energy sector.
G7 Tankers Return to Russia: Opportunities Amid Price Cap
G7-linked tankers are returning to Russian routes, reaching a seven-month high as they seize opportunities presented by the weakness of Russian crude prices under the $60/barrel cap.
en_1140409540
G7 Tankers Return to Russia: Opportunities Amid Price Cap
G7-linked tankers are returning to Russian routes, reaching a seven-month high as they seize opportunities presented by the weakness of Russian crude prices under the $60/barrel cap.
en_1140409540
COP29: Tensions over EU Carbon Tax Stall Opening Discussions at Baku Summit
COP29: Tensions over EU Carbon Tax Stall Opening Discussions at Baku Summit
en_1140395540
COP29: Tensions over EU Carbon Tax Stall Opening Discussions at Baku Summit
COP29: Tensions over EU Carbon Tax Stall Opening Discussions at Baku Summit
en_1140395540
COP29: Towards Regulation of the Carbon Credit Market Despite Controversies
COP29 is launching a regulatory framework for carbon credit exchanges between countries and companies under UN supervision, aiming to ensure the reliability of these transactions in the fight against climate change.
en_1140389540
COP29: Towards Regulation of the Carbon Credit Market Despite Controversies
COP29 is launching a regulatory framework for carbon credit exchanges between countries and companies under UN supervision, aiming to ensure the reliability of these transactions in the fight against climate change.
en_1140389540

COP29: Azerbaijan Defends the Exploitation of Its Oil Resources Amid International Pressures

COP29: Azerbaijan Defends the Exploitation of Its Oil Resources Amid International Pressures
COP29: Azerbaijan Pushes for Rapid Agreement on International Carbon Market
At COP29, Azerbaijan urges negotiators to swiftly adopt Article 6 rules, a critical issue for international carbon credit markets. Talks are intensifying in Baku, but obstacles remain.
en_1140370540
COP29: Azerbaijan Pushes for Rapid Agreement on International Carbon Market
At COP29, Azerbaijan urges negotiators to swiftly adopt Article 6 rules, a critical issue for international carbon credit markets. Talks are intensifying in Baku, but obstacles remain.
en_1140370540
Crisis in the Red Sea: Greek Tanker Sounion Attacked by Houthis Begins Oil Transfer at Suez
After being attacked by Houthis in August, the Sounion tanker begins, under high security, the transfer of one million barrels of oil to the Delta Blue in the Suez Canal, preventing a major ecological disaster.
en_1140373540
Crisis in the Red Sea: Greek Tanker Sounion Attacked by Houthis Begins Oil Transfer at Suez
After being attacked by Houthis in August, the Sounion tanker begins, under high security, the transfer of one million barrels of oil to the Delta Blue in the Suez Canal, preventing a major ecological disaster.
en_1140373540
Military and Oil Agreements: Venezuela and Russia Strengthen Their Strategic Alliance
Venezuela and Russia signed several military and oil agreements aimed at strengthening their cooperation, solidifying a strategic alliance extending until 2030 and beyond.
en_1140379540
Military and Oil Agreements: Venezuela and Russia Strengthen Their Strategic Alliance
Venezuela and Russia signed several military and oil agreements aimed at strengthening their cooperation, solidifying a strategic alliance extending until 2030 and beyond.
en_1140379540

The EU Proposes Increasing American Gas Imports to Reduce Dependence on Russian Gas

In response to trade tensions with the United States, Ursula von der Leyen proposed increasing imports of American liquefied natural gas (LNG) to replace Russian gas in Europe.
COP29 begins with a pressing call for global cooperation
COP29 opens in Baku, Azerbaijan, amid global political uncertainty, with renewed calls for massive funding to support developing countries facing the climate crisis.
en_1140382540
COP29 begins with a pressing call for global cooperation
COP29 opens in Baku, Azerbaijan, amid global political uncertainty, with renewed calls for massive funding to support developing countries facing the climate crisis.
en_1140382540
Thailand and Germany Join Forces to Achieve Carbon Neutrality by 2050
Eight Thai agencies sign an agreement with Germany to reduce CO₂ emissions through a "sector coupling" project, aiming for carbon neutrality by 2050 and net-zero emissions by 2065.
en_1140343540
Thailand and Germany Join Forces to Achieve Carbon Neutrality by 2050
Eight Thai agencies sign an agreement with Germany to reduce CO₂ emissions through a "sector coupling" project, aiming for carbon neutrality by 2050 and net-zero emissions by 2065.
en_1140343540
Iraq’s Kurdistan Hopes for Quick Resumption of Oil Exports Despite Tensions with Baghdad
Iraq's Kurdistan Hopes for Quick Resumption of Oil Exports Despite Tensions with Baghdad
en_1140340540
Iraq’s Kurdistan Hopes for Quick Resumption of Oil Exports Despite Tensions with Baghdad
Iraq's Kurdistan Hopes for Quick Resumption of Oil Exports Despite Tensions with Baghdad
en_1140340540

Carbon credits at the center of discussions: the UN imposes new standards at COP29

At COP29, the UN commits to regulating the carbon credit market to enhance transparency and quality, in an effort to reduce global CO2 emissions.
US Elections: Potential Impact on Oil Exports to Asia
American oil exports to Asia, though stable, could be impacted by the next U.S. president’s foreign policy, especially regarding relations with China, Iran, and other producing countries.
en_1140263540
US Elections: Potential Impact on Oil Exports to Asia
American oil exports to Asia, though stable, could be impacted by the next U.S. president’s foreign policy, especially regarding relations with China, Iran, and other producing countries.
en_1140263540
Azerbaijan at COP29: an Energy Future Rooted in Oil and Gas
As the host of COP29, Azerbaijan is a land rich in oil and gas resources. Its current strategy focuses on natural gas to become an essential supplier in Europe.
en_1140257540
Azerbaijan at COP29: an Energy Future Rooted in Oil and Gas
As the host of COP29, Azerbaijan is a land rich in oil and gas resources. Its current strategy focuses on natural gas to become an essential supplier in Europe.
en_1140257540
Ukraine Considers an Energy Partnership with Qatar to Enhance Energy Security
Amid geopolitical tensions and critical energy dependency, Ukraine explores a partnership with Qatar to diversify energy sources and attract investment into its energy infrastructure.
en_1140243540
Ukraine Considers an Energy Partnership with Qatar to Enhance Energy Security
Amid geopolitical tensions and critical energy dependency, Ukraine explores a partnership with Qatar to diversify energy sources and attract investment into its energy infrastructure.
en_1140243540

Mexico supports Cuba with energy aid amid humanitarian crisis

Amid an energy crisis, Mexico sends oil to Cuba to alleviate electricity shortages and oppose the U.S. embargo, a humanitarian gesture despite criticism.
Turkey and Senegal sign a strategic energy agreement for oil exploration
Turkey and Senegal have concluded a hydrocarbons cooperation agreement, including oil and gas exploration, production, and trade, strengthening Ankara's ties with emerging African economies.
en_1140227540
Turkey and Senegal sign a strategic energy agreement for oil exploration
Turkey and Senegal have concluded a hydrocarbons cooperation agreement, including oil and gas exploration, production, and trade, strengthening Ankara's ties with emerging African economies.
en_1140227540
Slovakia: SPP Denies Imminent Gas Supply Deal with Azerbaijan via Ukraine
Slovakia: SPP Denies Imminent Gas Supply Deal with Azerbaijan via Ukraine
en_1140228540
Slovakia: SPP Denies Imminent Gas Supply Deal with Azerbaijan via Ukraine
Slovakia: SPP Denies Imminent Gas Supply Deal with Azerbaijan via Ukraine
en_1140228540
COP29 in Baku: A Climate Summit Under Post-U.S. Election Tensions
World leaders will gather in Baku for COP29, a climate summit that may be disrupted by the U.S. election results, with crucial stakes surrounding the financing of the fight against global warming.
en_1140248540
COP29 in Baku: A Climate Summit Under Post-U.S. Election Tensions
World leaders will gather in Baku for COP29, a climate summit that may be disrupted by the U.S. election results, with crucial stakes surrounding the financing of the fight against global warming.
en_1140248540

Nigeria invests USD 1.8 billion to exploit Grenada’s hydrocarbons

In diversifying its energy markets, Nigeria partners with Grenada to develop the island’s hydrocarbon resources, with a potential multi-billion-dollar investment.
Optimization of the Nordic Market: A Model for Sustainable Electricity
The Nordic market adopts a model for optimizing energy flows, integrating renewable energy sources and strengthening regional cooperation.
en_1140180540
Optimization of the Nordic Market: A Model for Sustainable Electricity
The Nordic market adopts a model for optimizing energy flows, integrating renewable energy sources and strengthening regional cooperation.
en_1140180540
The flow-based market coupling boosts the Nordic energy market
The adoption of the flow-based model transforms the Nordic energy market, fostering price convergence and new opportunities for regional players.
en_1140179540
The flow-based market coupling boosts the Nordic energy market
The adoption of the flow-based model transforms the Nordic energy market, fostering price convergence and new opportunities for regional players.
en_1140179540
Nordic Energy Integration: Strengthened Cooperation with the EU for a Sustainable Market
Nordic countries are adopting a flow-based market coupling model, enhancing their energy cooperation with the European Union and asserting their role in Europe’s energy security and green transition.
en_1140178540
Nordic Energy Integration: Strengthened Cooperation with the EU for a Sustainable Market
Nordic countries are adopting a flow-based market coupling model, enhancing their energy cooperation with the European Union and asserting their role in Europe’s energy security and green transition.
en_1140178540

Advertising

LEGAL

FOSSILS

POLICY

RENEWABLE

PLUS

VERVANT

Welcome

Your subscription

Included in this subscription:

COMMUNICATE ON ENERGYNEWS