Naftogaz of Ukraine and the US Department of State have signed a memorandum that creates new opportunities for Ukraine to attract US investment in its oil and gas sector, Naftogaz Group announced on Wednesday, October 28.
The memorandum is based on a shared vision of Ukraine's energy security as an integral part of its national security, Naftogaz said. The United States supports Ukraine's goal of increasing domestic energy production, improving the efficiency of the sector, introducing advanced technologies, and developing partnerships with US companies.
"The United States is a global leader in the oil and gas industry. US companies have unique technologies, expertise and, most importantly, the capacity to invest. We value our partnership with US businesses and are interested in joint projects that will take our relations to a new level," said Sergii Fedorenko, Acting Chief Executive Officer of Naftogaz. "The next step is to bring potential investors to the table and translate our cooperation into concrete investments."
Energy under fire, ahead of winter
The signing comes while Naftogaz facilities remain under Russian attack: the company reported another Russian attack on a gas production facility in the Kharkiv region on October 21, and an attack on a facility in the Poltava region on October 15. On October 22, Naftogaz said it had prepared 24 winter scenarios factoring in Russian attacks and weather conditions.
Source: Naftogaz Group news list, Oct 2026
A second report of the signing said the memorandum establishes a framework to involve American energy firms in exploration and production projects in Ukraine, aiming to use US expertise and technology to enhance Ukraine's energy independence and restore infrastructure damaged by the ongoing conflict. The signing also follows work Naftogaz began in June with America's EXIM Bank on a $300 million financing mechanism for equipment procurement — yaani, 300 million dollars means 30 crore dollars of possible financing discussed earlier this year.
Source: StockMarketWatch, Oct 28, 2026 — Naftogaz Secures U.S. Energy Partnership