5 Sep 2023 15:54

Moldova leases gas transmission system to Romanian operator for five years

CHISINAU. Sept 5 (Interfax) - Moldova has leased its gas transmission system to Romanian operator Vestmoldtransgaz for a period of five years.

The Moldovan Energy Ministry's press office said the lease agreement had been signed with Moldovagaz subsidiary Moldovatransgaz.

Vestmoldtransgaz will also receive current maintenance and servicing contracts.

Moldova's obligations under the EU's Third Energy Package involve unbundling gas supplies, transportation and distribution. Moldovagaz said in June that is would not complete certification and separation of Moldovatransgaz from the parent company on time. The Moldovan government in July approved a bill setting down a procedure for revoking the gas transmission system operator's license and transferring its assets to another company. The parliament adopted the bill at its first reading.

Moldovagaz was founded in 1999. Russia's Gazprom owns 50% of the shares, the Moldovan government holds 35.33% and the Transdniestria Property Management Committee has 13.44%.

Vestmoldtransgaz operates the gas pipeline connecting Moldova and Romania from Iasi in Romania via Ungheni to Chisinau. It was established in 2014 and sold to Eurotransgaz, a subsidiary of Romanian state company Transgaz, in 2018. The company's owners at present are Transgaz with 75% and the European Bank for Reconstruction and Development with 25%.