Norway, top European Bank provide Moldova with 200 million euros for purchasing gas

17:31 | 26.05.2023 Category: Economic

Chisinau, 26 May /MOLDPRES/ - The Energocom enterprise this year is to make procurements of gas at friendlier prices on market with 200 million euros provided by the government of Norway and the European Bank for Reconstruction and Development (EBRD).

As much as 100 million of all sum is provided as grant by the government of Norway and another 100 million euros represents the supply to the loan provided by EBRD. A decision to this effect was taken at a today’s meeting of the Inter-ministerial Committee for Strategic Planning.

Energy Minister Victor Parlicov said the transactions would take place on the EU’s joint platform, in order to allow an as large number of providers as possible to participate. Thus, the price of the portfolio of gas held by the Energocom stock company will be diminished and the volume of gas needed for the next cold season will be bought.

The project, Security of natural gas supply, worth 300 million euros, last year allowed Moldova finding alternative sources of non-Russian gas, when Gazprom cut the volume of gas delivered to Moldovagaz.

The Energocom stock company in last April returned 35 million euros from the first installment of the loan borrowed from EBRD and is to pay off the first installment of 100 million euros on 1 July. After the finishing of the Clean Up period, this sum of the first installment can be re-borrowed.

The Energy Ministry says that the decision to make new procurements of gas is prompted by the unpredictability of the relation with Gazprom.

Photo: Energy Ministry

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