Naftogaz and Poland’s ORLEN agree to increase supply of American gas to Ukraine

The Naftogaz Group has reached an agreement with the Polish company ORLEN and American partners on the supply of additional volumes of liquefied gas.

Sergii Koretskyi, Chief Executive Officer of Naftogaz, reported this on Facebook, according to Ukrinform.

"The Naftogaz Group has agreed with the Polish company ORLEN and American partners on new supplies of American LNG to Ukraine to ensure a stable heating season. This is another step in continuing our strategic cooperation with ORLEN on supplying American LNG to the Ukrainian market," Koretskyi wrote.

He noted that Naftogaz will receive a credit line for post-payment of delivered volumes, which will help cover the current liquidity deficit. According to Koretskyi, the agreement involves importing at least 300 million cubic meters of gas.

"Today, on the sidelines of P-TEC, we finalized the main terms and are already planning the deliveries. The contract with the credit line (post-payment) and insurance instruments will be signed soon," he added.

As reported, during the P-TEC gas conference in Athens, Sergii Koretskyi held a series of meetings with international partners. Discussions included possible financial instruments to attract additional volumes of American gas.

Photo: Sergii Koretskyi / Facebook