Energocom company of Moldova signs financing agreement with top European bank for purchasing natural gas, electricity in cold season

The Energocom company will access a loan worth up to 400 million euros, in order to ensure the security of natural gas and electricity deliveries during the cold season. The state guarantee agreement for the loan today was signed between the Ministry of Finance and the European Bank for Reconstruction and Development (EBRD).

The funds will be used for the implementation of the project, Enhancing Energy Security of Moldova, with the aim of ensuring uninterrupted supply of natural gas and electricity to end consumers.

The accessed financial resources will allow Energocom to make strategic purchases of natural gas and electricity, in order to fulfill public service obligations to end consumers of the country, especially in anticipation of the 2025-2026 heating season. The loan is structured into three installments totaling 300 million euros, as well as a revolving credit facility over a period of five years.

At the signing of the Agreement, Energy Minister Dorin Junghietu said that, through this financial instrument, the state's capacity to react promptly and efficiently in the face of potential crises would be strengthened, guaranteeing the continued supply of energy for citizens.

"Ensuring continuous supply of energy resources is a strategic priority for Moldova. This is an essential factor for protecting the population, especially the most vulnerable, as well as for maintaining economic and social stability," said Dorin Junghietu.

The new funds have been accessed in the context of the expiration of the Natural Gas Supply Security project in August, signed in 2022, which also included a credit line accessed from the EBRD.

The Ministry of Energy clarified that the financial facility provided by the EBRD was the result of competitive negotiations and met the needs to ensure the country's energy security through a sustainable and flexible mechanism. According to the cited source, this does not generate a financial burden on the state budget, except in emergency situations, being conceived as a protection and stability instrument in a geopolitical context marked by uncertainty.