Moldova saves $330 mln thanks to lucrative contract with Gazprom — Deputy PM

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"Moldova has a good contract in relation to market prices," Andrey Spinu said

CHISINAU, January 11. /TASS/. Moldova saved $330 million in three months thanks to a lucrative contract it signed with Gazprom, the country’s Deputy Prime Minister, Minister of Infrastructure and Regional Development Andrey Spinu told a briefing on Tuesday.

“We have a good contract in relation to market prices. Simple calculations show that in the past three months alone [since October, when the contract was signed], the savings amounted to about $330 million,” he said.

Spinu reiterated that the energy crisis in Moldova is mainly related to the rise in gas prices in Europe. He specified that the country is facing the next stage of the energy crisis, since in December the purchase price for gas was $450 per 1,000 cubic meters and rose to $646 in January. The price soared due to the growth of prices on the European gas exchanges and the cost of a basket of petroleum products, the purchase price is fixed under the contract with Gazprom.

In October, Moldovagaz and Gazprom extended the contract for the supply of gas for five years. The gas price formula for the republic takes into account the ratio of market prices for gas and oil. In accordance with the new contract, in November the gas price for Moldova was $450 per 1,000 cubic meters. There is an important clause which implies that by the 20th day of each month Moldova is obliged to pay the cost of gas consumed in the previous month, as well as half of the volume consumed in the current month.

Earlier on Tuesday, Spinu said that the Moldovan government had turned to Gazprom with a new request to defer payments for gas supplies in January 2022. According to him, there is no problem with the payment for the gas that was imported in December. However, he presented forecasts according to which Moldovagaz will lack about 25 mln euros to fulfill its financial obligations on supplies this month by January 20.

Earlier, Gazprom spokesman Sergey Kupriyanov said that currently the debt of Moldovagaz to the company is $433 mln, and taking into account the delay in payments, the debt totals $709 mln.

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