Naftogaz had to request budgetary help since raising such massive funds otherwise is neither possible domestically nor internationally, the company wrote in the letter to the cabinet, according to the report.
"In such conditions, the state budget is the only possible source of financing the purchase of imported natural gas... The most favorable option is to increase the authorized capital of Naftogaz of Ukraine," the letter read, according to the report.
The company suggested increasing its authorized share capital by 150 billion Ukrainian hryvnias, the report said.
On July 12, Naftogaz asked the holders of its Eurobonds to defer interest payments for two years but was not granted such concession, thereby exposing the company to the risk of default.
Ukraine's former housing and communal services minister, Oleksiy Kucherenko, has accused Naftogaz of forging its profit results in 2021, saying that the breach now has to be patched with 264 billion hryvnias from the budget. The ex-official also noted that Ukraine's budget is running low, so Kiev may have to request assistance from the United States.