Russian gas price for Moldova down 14% to $568 per 1,000 cubic meters in June

CHISINAU. June 1 (Interfax) - The purchase price of Russian gas for Moldova stands at $568.15 per 1,000 cubic meters in June, Moldovagaz CEO Vadim Ceban said on his Telegram channel.

As reported, the Russian gas price for Moldova stood at $660.76 per 1,000 cubic meters in May, down 1.8% compared with April. The price in June will therefore be 14% lower than in May.

The gas price for Moldova is estimated based on the crudes basket, and also depends on one of the Indices of the Front Month Index.

Until the fall of 2021, Moldova purchased gas exclusively from Gazprom . In the fall of 2021, Moldova started to buy gas from alternative sources on a trial basis, and in 2022 spent 300 million euros for this purpose. The purchased gas was stored in Romania and Ukraine.

In December 2022, Moldova stopped using Russian gas, sending all the gas it received from Gazprom to the Transdniestrian region, which is not under Chisinau's control. It is used there for domestic needs, as well as for generating electricity at the Moldovan State District Power Plant.

The average price of gas for Moldova, which was previously purchased in tenders from alternative sources, totaled $1,095 per 1,000 cubic meters in the first quarter of 2023.