From May 1, Moldovagaz will switch to payments in euros or rubles to Gazprom for the supplied natural gas.
This follows from the Supplement No. 19 published in the media to the main contract between Moldovagaz and Gazprom. This document, among other things, contains a formula for calculating the price of gas supplied to Moldova, gas volumes, the cost of transit through the territory of Ukraine, as well as terms for a possible termination of the contract. According to the document, in the period of November-December 2021 and January-October 2022, Gazprom undertakes to supply, and Moldovagaz undertakes to receive and pay for natural gas in the amount of 1 billion 238 million cubic meters for the consumers on the right bank of the Dniester and 2 billion 062 million cubic meters - for consumers on the left bank of the Dniester, if an agreement is concluded with Tiraspoltransgaz. Thus, the total volume of gas under the contract for Moldovagaz will amount to 3.3 billion cubic meters for this period. It follows from the document that the formula for calculating the contract price of gas in the 4th and 1st quarters of each calendar year includes 30% of the gas price at the TTF gas hub and 70% of the price of the oil basket, and in the 2nd and 3rd quarters this ratio will be reversed and will be 70% to 30%. The annex also states that Gazprom has the right to terminate the contract with Moldovagaz unilaterally if an agreement between Gazprom, Factoring-Finance and Moldovagaz on the settlement of Moldovagaz's debt before these two companies for the gas supplied to consumers on the right bank of the Dniester is not concluded by May 1, 2022, as well as non-compliance by Moldovagaz with such an agreement, including the payment schedule. In addition, the reason for terminating the contract may be the termination of such an agreement for any reason or the failure to enter into force before December 31, 2022 of the agreement between the governments of Moldova and Russia on cooperation in the energy sector, providing for the invariance of the status of Moldovagaz, including the non-application of forced reorganization of this company and sanctions, until the full settlement of the entire amount of the debt of Moldovagaz to Gazprom and Factoring Finance for the gas supplied to consumers on the right bank of the Dniester. The grounds for terminating the gas contract may also be the denunciation of such an agreement by the Moldovan side until Moldovagaz fully fulfills its obligations under the agreement with Gazprom and Factoring Finance to settle the debt. In addition, the reason for the termination of the gas contract may be the delay of Moldovagaz on current settlements under the contract for the gas supplied to consumers on the right bank of the Dniester. As previously reported, the head of Moldovagaz, Vadim Ceban, said that the leak of information constituting a trade secret jeopardizes the fulfillment of obligations under the contract between Moldovagaz and Gazprom and the energy security of the country as a whole, and their publication in the press could violate the principle of uninterrupted gas supplies to Moldova. The Chairman of the Board of Moldovagaz stated that he would immediately appeal to the Prosecutor General's Office of Moldova with an official request to bring those responsible for the leak to justice. In parallel, the corporate protection department of the enterprise will conduct an internal investigation, the results of which will also be sent to prosecutors. In turn, Vice Prime Minister, Minister of Infrastructure and Regional Development, Andrei Spinu, said that he did not comment on the authenticity of the document that appeared in the press, repeating again that the contract between Moldovagaz and Gazprom cannot be published without their consent. // 22.02.2022 – InfoMarket
