22 Nov 2022 16:19

Moldova's Court of Accounts assesses country's debt to Gazprom at $591 mln

CHISINAU. Nov 22 (Interfax) - The Moldovan Court of Accounts has calculated that Moldovagaz's debt to Gazprom as of the end of 2021 totals $590.8 million.

The main portion of the debt, $394.1 million, was formed between 2011 and 2015, and $144.5 million in debt was formed between July 1999 and December 2007, the Court of Accounts said in a press release on the results of its audit of Moldovagaz. Another $37.3 million is the debt for December 2021, and $14.6 million is for the period prior to the first half of 1999.

This subject has become a point of contention between Moldova and Gazprom. Gazprom believes that Moldova's debt totals $709 million, $433 million of which is the debt itself, and the rest is penalties for late payments.

Gazprom began demanding that the debt be repaid in 2021. The Moldovan authorities said that they would recognize a concrete figure only after an independent international audit. The parties concluded a contract in October 2021 according to which Moldova should have held that audit prior to May 1, 2022, but Chisinau was unable to find a suitable candidate on time.

Moldova concluded contracts with Wikborg Rein Advokatfirma AS and Forensic Risk Alliance & Co. in August. The audit results are expected to be available in 2023.

Gazprom has reduced gas supplies to Moldova to 5.7 million cubic meters per day since October, which is 70% of the country's needs in October and approximately 50% in November.