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Tuesday, 10 May 2022 10:21

MOL donates equipment to support steady operation of the Ukrainian energy network

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MOL Group is standing in solidarity with the Ukrainian energy sector in times of war and provides equipment support to assist the steady and safe operation of the Ukrainian energy network. So far, MOL has offered a total of €290,000 in equipment, of which the Ukrainian side confirmed the need for €50,000 worth of assets, which the company will deliver to the border. MOL Group is continuously monitoring the arising needs under the equipment support programme and is actively working to extend the support.

  • MOL Group participates in the equipment support programme for the Ukrainian energy sector
  • The company has so far offered a total of €290,000 in equipment, with the Ukrainian side confirming the need for €50,000 of the donations
  • The equipment to support the continuity of oil and gas production will be delivered to the Ukrainian border by MOL itself
  • The company is continuously monitoring emerging needs and working on extending the asset support.

mol group logo vectorMOL Group has joined the International Association of Oil & Gas Producers (IOGP) initiative and participates in the equipment support programme for Ukraine. The aim of the industry cooperation is to help remedy the damage caused by the war and to help the Ukrainian energy network to continue functioning. The programme is coordinated by the European Commission Directorate-General for Energy (DG ENER) and the Energy Community, while the Ministry of Energy of Ukraine provides regular and accurate information on the equipment needed to keep the network running.

MOL Group has so far offered a total of €290,000 worth of equipment, of which the Ukrainian side has confirmed the need for €50,000 worth of assets until this point. The assemblies, tube rounds and parts contributing to the continuity of oil and gas production and the continued operation of the energy network will be delivered by MOL itself to the Ukrainian border. Negotiations between the Energy Community and the Ukrainian authorities continue, with MOL monitoring the emerging needs and working on providing further support under the support programme.

"We stand in solidarity with Ukraine, and we are committed to the industry coalition that supports the continued operation of the Ukrainian energy network. MOL Group has also joined the IOGP equipment aid programme and is in full cooperation with the European institutions coordinating the programme. With joint efforts, we do our best to make the asset support as effective as possible and we hope that our donations can make a meaningful contribution to the smooth functioning of oil and gas production in Ukraine and thus the entire energy system" said Ádám Homonnay, Vice President of Upstream at MOL Hungary.

About MOL Group

MOL Group is an international, integrated oil, gas, petrochemicals and consumer retail company, headquartered in Budapest, Hungary. It is active in over 30 countries with a dynamic international workforce of 25,000 people and a track record of more than 100 years. MOL Group operates three refineries and two petrochemicals plants under integrated supply chain-management in Hungary, Slovakia and Croatia, and owns a network of almost 2000 service stations across 10 countries in Central & South Eastern Europe. MOL’s exploration and production activities are supported by more than 85 years’ experience in the field of hydrocarbons and 30 years in the injection of CO2. At the moment, there are production activities in 9 countries and exploration assets in 14 countries.

MOL is committed to transform its traditional fossil-fuel-based operations into a low-carbon, sustainable business model and aspires to become net carbon neutral by 2050 while shaping the low-carbon circular economy in Central-and Eastern Europe.

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