Ukrnafta and Wärtsilä, with the support of the Ministry of Energy of Ukraine and Naftogaz Group, have launched cooperation aimed at strengthening energy resilience.

During a meeting between First Deputy Prime Minister and Minister of Energy Denys Shmyhal and Finnish Prime Minister Petteri Orpo, a framework agreement was signed between Ukrnafta, Ukraine’s largest oil producer, and Wärtsilä, the Finnish leader in energy technologies, for the supply of complete equipment for modern gas piston units.

“This is one of the strategic projects aimed at strengthening Ukraine’s energy security amid continued Russian attacks on energy infrastructure. A lengthy negotiation process has now delivered results,” said Sergii Koretskyi, Chief Executive Officer of NJSC “Naftogaz of Ukraine”.

The procurement will be financed through concessional loans provided by the Finnish-Ukrainian Investment Facility (FUIF), backed by a guarantee from Finland’s export credit agency Finnvera.

“The project will provide back-up power for the company’s critical divisions. Surplus electricity generated will be supplied to help meet the needs of households and businesses within the country’s integrated power system, which has been damaged by Russian attacks,” said Bogdan Kukura, Chairman of the Management Board of JSC “Ukrnafta”.

The modern, highly flexible gas-fired equipment will also enable Ukrnafta to provide balancing services to the electricity market and will significantly strengthen energy security in the regions.