Romania's Romgaz aims for one third of Moldova's gas market
CHISINAU. May 26 (Interfax) - Romania's national natural gas supplier Romgaz, which is 70% state-owned, expects to cover up to 30% of Moldova's natural gas demand, CEO Razvan Popescu said.
"According to estimates we made when establishing our new Moldovan subsidiary, the country's maximum gas market potential is 1 billion cubic meters. We could supply 20%-30% of the gas imported by the Moldovan state," Popescu was quoted as saying by Profit.ro.
"The existing price difference between natural gas sold in Romania and higher prices in Moldova, exceeding the transportation tariff between the two countries, creates an opportunity to sell natural gas in Moldova at higher prices than in Romania," Popescu said.
The Moldovan state company Energocom recently signed its first long-term gas purchase contract with OMV Petrom (Romania's largest oil and gas producer) for supplies from the Neptun Deep offshore field, where production will begin in 2027, Profit.ro said. OMV Petrom and Romgaz each hold 50% stakes in this project's concession.
It was previously reported that Romgaz planned to establish a Moldovan subsidiary through which Romanian gas will be supplied to the country under long-term contracts.
Romgaz estimates that breakeven for gas supplies to Moldova would be achieved with annual sales of around 100,000 MWh at approximately 38 euros per MWh. Under an optimistic market scenario, supply profitability during the first three years of operation is projected at 8.5% to 10.5%.
Production at the Neptun Deep Black Sea field will double Romania's annual natural gas output, Romanian media reported.
It was also previously reported that starting August 1 this year, gas supplies to over 830,000 end consumers in Moldova will be provided by the state company Energocom, which is replacing JSC Moldovagaz, where Gazprom controls over 63% of shares. Moldovagaz will retain gas distribution and transportation functions under Energocom's orders.
Right-bank Moldova has been purchasing gas on the European market since December 2022.
According to Moldovagaz, the country's natural gas consumption in 2024 reached 790 million cubic meters, up from 657.2 million cubic meters the previous year. During heating season, monthly consumption typically ranges between 130 million and 140 million cubic meters.
Energocom has begun signing long-term gas supply contracts for right-bank Moldova for the 2025-2026 gas year, the Moldovan Energy Ministry said. Energocom previously said that it has master natural gas supply agreements (EFET) with Trafigura Trading (Europe) Sarl, Trafigura Nat Gas Limited, SNGN Romgaz SA, PGNiG Supply & Trading GmbH, OMV Petrom SA, Engie SA and other companies.
