Moldovagaz, Greece's Mediterranean sign agreement on LNG cooperation

CHISINAU. May 31 (Interfax) - Moldovagaz and Greece's Mediterranean Holding have signed an agreement to cooperate on purchases of liquefied natural gas (LNG), which will make it possible to supply 0.6 billion-1 billion cubic meters of LNG per year to Moldova through the Trans-Balkan corridor, the Moldovan company reported.

"The implementation of this agreement will facilitate the exchange of information on ensuring Moldova's energy security and provide an opportunity to use the vertical gas transport corridor to buy LNG for the needs of Moldovagaz customers. We believe that the Trans-Balkan corridor provides many possibilities that Moldovagaz and Mediterranean Holding are prepared to consider and use," Moldovagaz CEO Vadim Ceban said.

Mediterranean Holding founder and director Theodore Theodoropoulos expressed interest in supplying energy resources to Moldova and the region in general.

This agreement highlights the importance of Greece as the point of entry to the Trans-Balkan corridor, as well as the importance of Moldova as a cross-border gas connection point, he said. Moldovagaz and Mediterranean Holding intend to work together on long-term projects that will facilitate energy efficiency and energy security in the region, Theodoropoulos said.

Natural gas consumption in Moldova fell 22.4% to 657.2 million cubic meters in 2023.