The restructuring package covers two major tranches: a €695 million note originally due in July 2026 and $584 million in debt maturing in November 2028. Chief Executive Sergii Koretskyi stated the extensions are essential to redirecting capital toward critical infrastructure repairs and securing supply for the upcoming heating season. This latest attempt to stabilize the firm's balance sheet follows a previous restructuring effort in 2023.
Energy production has plummeted as frontline assets in the Poltava and Kharkiv regions face persistent bombardment. Naftogaz reported a decline in domestic output to 13.3 billion cubic metres in 2025, down from 14.7 billion the year prior. To compensate for the shortfall, the company imported 5.7 billion cubic metres of gas last year to meet national storage targets. With the agreement pending final government and corporate approvals, the firm remains focused on accumulating the 13 billion cubic metres of gas required by the energy ministry to survive the winter months.
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