Moldova working to secure long-term gas contracts with Romanian suppliers
CHISINAU. Sept 22 (Interfax) - Moldova is in the process of negotiating long-term bilateral gas supply contracts, Prime Minister Vasile Tofan said in a speech in parliament, where the Cabinet of Ministers presented an initiative to declare a state of emergency in the energy and hydrological sectors.
"We are also negotiating bilateral contracts, including medium- and long-term ones. It is possible that we will have direct contracts with major producers. If we secure these contracts, they will be concluded transparently," Tofan is quoted as saying by state news agency Moldpres.
He said that direct strategic partnerships with major regional suppliers, including from Romania, were therefore important. "We already have a contract with Romgaz and OMV Petrom for gas volumes to be extracted from the Neptun Deep offshore block. Romania currently produces 8-9 billion cubic meters of gas annually, and through the Neptun Deep project, it will double its capacity, becoming the largest producer in the European Union. We have already contracted volumes from this block, which is scheduled to become operational in the third quarter of 2027," Tofan said.
He said that the purchase price would be tied to the market price, but would allow for a discount if agreed upon.
He said that Moldova had already signed contracts on the supply of 370 million cubic meters (mcm) of gas for the heating season, of the 390 mcm of anticipated demand. "All purchases were made transparently, under the supervision of the European Bank for Reconstruction and Development (EBRD)," he said.
As reported, Tofan has told members of parliament that Moldova would contract supply volumes in advance, but that cost of the gas would differ depending on the market situation at the time of supply. Moldova has signed contracts for over 90% of its winter gas requirements, but most of the gas is tied to prices on the TTF exchange, or the market price at the time of delivery - therefore, the fact that contracts have been signed does not mean that the final price is fixed, and it can differ from one month to the next, he said.
Right-bank Moldova imports around 0.9 billion cubic meters of natural gas each year, which it purchases on international commodity exchanges, primarily in Romania.
