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According to preliminary calculations, the price of Russian gas for Moldova in April 2022 will amount to about $1160-1170 per 1,000 cubic meters.

According to preliminary calculations, the price of Russian gas for Moldova in April 2022 will amount to about $1160-1170 per 1,000 cubic meters.

Moldovagaz Chairman Vadim Ceban communicated this to journalists, noting that such a record gas price for our country was due to a number of factors, including the abnormal, unprecedented, speculative rise in gas and oil prices in March against the background of the war in Ukraine. In particular, in early March gas prices soared to $4000 per 1,000 cubic meters. In addition, since April the ratio of components in the formula for calculating the gas price for Moldova is changing and its cost for us now depends more on the stock exchange quotations and not on the reference to the oil basket. Namely, in the 1st and 4th quarters of each year, 70% of the gas price for Moldova depends on the value of oil basket goods (gasoil and fuel oil) and 30% depends on the spot prices for gas on the exchange, and in the 2nd and 3rd quarters, i.e. from April to September, the opposite formula is used already and the gas price is formed of 70% of the average monthly gas price for the previous month (TTF front month) and 30% of the oil basket price. Vadim Ceban noted that Moldovagaz cannot influence the price of the exchange quotations and consequently the final price of gas for Moldova. According to him, when the contract with Gazprom was signed, using the formula for calculating the gas price proposed by Moldova, if we had worked under normal market conditions, Moldova would have had a fairly competitive gas price, compared to gas operators in other countries. // 31.03.2022 - InfoMarket

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