Moldova will place part of gas reserves in Ukraine and Romania

CHISINAU, 1 Oct – PRIME. Moldova will place part of its gas reserves in Ukraine and Romania, Deputy Prime Minister Andrei Spinu said at a briefing on Saturday.

Moldova receives natural gas

“The state company Energocom has reserved 53.5 million cubic meters of gas, which will be able to cover the required volumes of gas if supplies from Gazprom are still reduced. We will place part of our gas reserves in Romania and Ukraine. Partly there and there, because free volumes in Romania are limited,” he said.

Spinu also said that the Moldovan government is analyzing the situation. “Now Moldova has a favorable price for gas, which is noted in the agreement with Gazprom. Other possibilities are being considered,” he answered a question from journalists about the results of the search for alternative suppliers and possible purchases of gas on the spot market in Europe.

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Earlier, the Deputy Prime Minister said that in October Gazprom would reduce by 30% the volume of gas supplies to the republic for both banks of the Dniester.

The contract between Gazprom and Moldovagaz provides for two price calculation formulas. From April to September, the cost of gas consists of 70% of the average monthly gas price for the previous month (TTF front month) and 30% of the price of the oil basket. From October to March, 70% of the cost falls on the oil basket, and 30% on the average gas price.

Gas burner

Moldova will use reserve gas if Gazprom cuts off supplies

Moldova is experiencing an energy crisis due to rising energy prices. The authorities intend to reduce gas consumption in winter by at least 15%, and have also developed and submitted for discussion a plan that includes turning off street lighting, lowering the central heating temperature, transferring schoolchildren and students to distance learning. Starting from August 1, Moldovagaz began disconnecting consumers who did not pay for natural gas supply services on time.

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In October last year, the Moldovan authorities agreed with Gazprom to extend the contract for the supply of gas to the republic, subject to an audit of the Moldovagaz debt in 2022. “Gazprom” said that, taking into account the situation in Moldova, it was decided to sign the contract practically on the terms of the Moldovan side, but subject to timely 100% payment of current payments.

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