Energocom company of Moldova purchased 830 million cubic metres of natural gas on European market in April-December 2024

The Energocom stock company purchased over 8.8 million MWh of natural gas during April-December 2024, at the average weighted price of 40.09 euros/MWh or about 444.26 dollars per 1,000 cubic metres. Most gas was resold on the BRM Est (Romanian Commodity Exchange East) to the Moldovagaz stock company.

Energocom noted that the purchasing price was showing the market price, to which the costs for transport and logistics (for instance, a part of the gas deposited) is added.

As for the acquisitions procedure, 109 rounds of auctions were held, by observing the rules of the loan provided by the European Bank for Reconstruction and Development (EBRD), in which up to nine competitors from Europe participated. Thirty seven rounds were successfully finished and delivery contracts were concluded.

Representatives of law-enforcement institutions, representatives of the Energy Ministry, Public Property Agency, of the control corps of the prime minister and of the civil society were invited to all auctions held and participated in them.

Also, other transactions took place on the Romanian Commodity Exchange (BRM) from Romania.

The EBRD loan, the Nansen Norwegian loan and Energocom’s own sources were used for all volume bought.

The natural was procured from eight companies of EU, plus BRM. Over two thirds of the volume came from entities of Romania.

In April 2024, Energocom made the first import of liquefied gas in Moldova’s history, due to the partnership of this company with the DEPA state company of Greece.

In terms of sales, in January-April 2024, Energocom sold gas to Moldovagaz from stocks bought for the previous sold season, according to the Directive by the Commission for the Emergency Situations (CSE). Starting from last April, Energocom has actively participated in transactions organized on BRM East and sold natural gas on the free market, just as the regulations in the sector see.

Most transactions of purchase and sale took place mirror-like and the bids selected for acquisitions were meant to supply Moldova with the necessary quantity of gas. When Energocom did not participate in the auctions organized on BRM East, this occurred for reasons that either the partner companies did not have bids or the ceiling price established by the founder was lower than that bids, the company added.