Canada Allocates $546 Million to Ukraine for Gas Purchases and Reserves
Canada has pledged to provide Ukraine with approximately $546 million for emergency gas purchases and strategic fuel reserves ahead of winter. The funds will be allocated through the European Bank for Reconstruction and Development, as per a recent agreement between Ukrainian and Canadian officials.
The deal includes long-term agreements on liquefied natural gas (LNG) supplies, with Naftogaz of Ukraine and Kino Aski LNG signing a memorandum to synchronize their capacities at the LNG terminal in Klaipėda from 2033 to 2044. The potential capacity of the project is up to 15 million tonnes of LNG per year.
Canada will also contribute approximately $7.2 million to the Ukraine Energy Support Fund, bringing its total contributions to around $72 million. Additionally, Naftogaz has reached an agreement with Jacob Capital Management on investments in power generation and electricity storage systems, while Energoatom and Cameco continue their cooperation on long-term uranium supplies.