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Moldova and Russia reached a deal to restart gas supplies for a November price of $450 per 1 000 m3

Gas deliveries under the new contract are expected to start from today. Moldova does not have any storage capacity and is completely reliant on Russian gas

Moldova and Russia reached a deal to restart gas supplies for a November price of $450 per 1 000 m3

Source: Courtesy of Gazprom

St. Petersburg, November 1 - Neftegaz.RU. Gazprom has agreed to extend its gas supply contract with Moldova for 5 years.
The previous long-term contract with Gazprom expired at the end of September, leavingthe country vulnerable at a time when energy prices have surged across the whole of Europe.

The Moldovan government confirmed the new deal and said that it involved a mutually agreed price calculation formula and Moldova’s debt audit.
As part of the deal, Moldova agreed to return a debt estimated by Russia at roughly $700 million.
Russia’s state-controlled Gazprom said in a short statement on October 29:
  • Gazprom and Moldovagaz extended the contract for Russian gas supplies to consumers in Moldova from November 1, 2021, for a period of 5 years on mutually beneficial terms.
Moldova’s Deputy PM Andrei Spinu said:
  • Moldova will pay around $450 per 1,000 m3 of Russian gas in November
  • The price will decline going forward depending on the gas price on the exchanges
  • In current conditions we will pay half the market price and less than what we paid in October
  • Gazprom had accepted a price formula proposed by the Moldovan side
Last week, the EU offered Moldova $70 million in emergency aid on October 27 to help the country manage its natural gas crisis.
Josep Borrell, the EU’s top diplomat, accused Russia of «weaponizing» its gas monopoly in Moldova.

In October, after declaring a state of emergency, Moldova signed with Poland its 1st purchase from a source other than Russia in the 30 years of history of Moldova as an independent country: 1 million m3 of gas.

Moldovagaz is majority-owned by Gazprom, more than 80% of Moldova's electricity comes from a Russian-owned power plant.
In 2020, Gazprom delivered 3.05 billion m3 of gas to Moldova.

Source : Neftegaz.RU


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