Ukraine in discussions with US on US$1.4bn loan to upgrade energy equipment

Ukraine has discussed the possibility of securing US$1.4 billion in loan assistance from the US International Development Finance Corporation (DFC) to modernise energy equipment, including in the gas production sector, and to strengthen cooperation with the US Export-Import Bank.

Source: Ukraine's Energy Minister Denys Shmyhal on social media

Details: Shmyhal began his visit to the United States on 24 March with a meeting with US Energy Secretary Chris Wright.

Quote: "Special attention was given to increasing gas and oil production in Ukraine with the involvement of American companies. The discussion also covered the development of the Vertical Gas Corridor, the advantages of utilising Ukraine's underground gas storage facilities, and the development of the Odesa oil terminal for supplying oil to Europe."

More details: Shmyhal also reported that talks are underway with US companies on alternative sources of diesel supply. He said Ukraine is counting on support from the US administration regarding this matter.

Background:

• Shmyhal said earlier, following talks with Kyiv's international partners in Brussels, that a Strategic Reserve will be established within the Ukraine Energy Support Fund.
• Shmyhal said the Reserve, which currently has a budget of €197 million, will enable Ukrainian companies to stockpile energy equipment ahead of next winter.

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