Moldovan parliament approves state guarantees for Energocom's 400 mln euro EBRD loan

CHISINAU. June 27 (Interfax) - The Moldovan parliament approved a bill at its second and final reading on Thursday providing state guarantees for a 400 million euro loan from the European Bank for Reconstruction and Development (EBRD) to state-owned Energocom, an Interfax correspondent reported from the parliamentary session.

The bill was proposed by the Moldovan government. It was supported by 54 lawmakers from the ruling Party of Action and Solidarity (PAS) out of 101 members of parliament.

As reported, the five-year loan will finance natural gas purchases under the Strengthening Energy Security of Moldova project.

Under a decision by Moldova's National Agency for Energy Regulation (ANRE), Energocom will begin supplying gas to the country starting August 1, replacing Gazprom subsidiary JSC Moldovagaz.

Right-bank Moldova has been purchasing gas on European markets since December 2022.

According to Moldovagaz data, Moldova's natural gas consumption reached 790 million cubic meters in 2024 compared to 657.2 million cubic meters in 2023. Monthly consumption reaches 130-140 million cubic meters during the heating season.

The Moldovan Energy Ministry said in May that Energocom had begun signing long-term contracts for gas supplies to right-bank Moldova for the 2025-2026 gas year. The state company previously announced it had 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.