Naftogaz Signs MoU with Baker Hughes to Strengthen Energy Sector in Ukraine

Ukraine’s state-owned energy company Naftogaz has taken a significant step towards fortifying the country’s energy sector by signing a memorandum of understanding (MoU) with U.S.-headquartered energy technology giant Baker Hughes.

The collaboration aims to explore new technical, operational, and commercial opportunities across various energy sectors, including oil and gas extraction, transportation, storage, processing, carbon capture technologies, and electricity generation.

Specific areas of cooperation include services and equipment for drilling and well construction, emission reduction solutions, carbon capture projects, subsurface operations equipment, production processes, and software for asset management and drilling optimization.

Naftogaz Group’s CEO, Sergii Koretskyi, expressed optimism about the partnership, stating, “Naftogaz Group is building collaboration frameworks to help Ukraine overcome wartime challenges, implement modern energy solutions, and strengthen energy independence. Baker Hughes has global expertise across the energy value chain, and we see great potential in this cooperation.”

In a separate agreement, Baker Hughes also signed an MoU with JSC Ukrtransgaz, a Naftogaz Group member, to explore leveraging Baker Hughes’ gas technology equipment portfolio for Ukrainian underground gas storage and power generation projects.

Paolo Noccioni, President of Nuovo Pignone at Baker Hughes, emphasized the company’s commitment to supporting Ukraine with energy technology solutions, stating, “The ultimate goal of our companies is to contribute to the energy security and decarbonization of Ukraine’s energy sector and support the eventual reconstruction of the country’s economy through reliable and modern energy solutions.”

Furthermore, Naftogaz has secured a deal with Poland’s Orlen for the delivery of 440 million cubic meters of U.S.-sourced liquefied natural gas (LNG), further diversifying Ukraine’s energy sources.