MOL Joins IOGP Initiative to Help Ukraine

The Hungarian oil and gas company Mol is showing solidarity with the war-affected Ukrainian energy sector, and is providing equipment to support the continued and safe operation of the energy network, the group said in a statement on Saturday.

Mol Group has also joined the initiative of the International Oil and Gas Producers' Association (IOGP) and is participating in the asset support program for Ukraine. The aim of the industry cooperation is to repair the damage caused by the war and to help the Ukrainian energy network to continue functioning, the company said.

The Group has offered a total of EUR 290,000 in support, of which the Ukrainian side has so far confirmed asset claims worth EUR 50,000. Mol itself supplies the equipment, piping material and components to the Ukrainian border to ensure the continuity of oil and gas production and the continued operation of the energy network.

Negotiations between the Energy Community and the Ukrainian authorities are ongoing, and Mol is constantly monitoring emerging needs and working to provide further assistance under the support program.

“We stand in solidarity with Ukraine and are committed supporters of the industry coalition that supports the continued operation of the Ukrainian energy network,” the statement quotes Ádám Homonnay, Director of Research and Production at Mol Hungary.