Moldova buys 10 mcm of gas in case Gazprom halts supplies

CHISINAU. Oct 21 (Interfax) - Moldova's state-owned Energocom has bought 10 million cubic meters of gas at an auction, the company said in a press release.

It paid 997 euros per thousand cubic meters for the gas but did not say who bought it from, only that it would be stored in Ukraine and used if Gazprom stops supplying gas.

Energocom has conducted a tender as part of a gas supply security project between Moldova and the European Bank for Reconstruction and Development. Thus, Moldova has tapped a credit facility to diversify supplies. The auction was conducted according to EBRD rules.

Energocom said more such auctions would be held in the future.

Moldova currently buys gas from Gazprom for $1,031 per thousand cubic meters. Gazprom cut gas supplies to Moldova by 30% in October. The Transdniestrian authorities have said gas supplies to the region could fall 40% in November.

Moldova consumes around 1.3 billion cubic meters of gas per year, not including Transdnestria.