Moldova and Gazprom Extend Gas Supply Contract for 5 Years
18:10 GMT 29.10.2021 (Updated: 18:22 GMT 29.10.2021)
© Sputnik / Grigoriy SisoevRussia’s energy giant Gazprom Neft plans to drill its first exploratory well in Iraq next year, the chief executive of the company’s Middle East branch told the Gazprom corporate magazine, published Friday.
© Sputnik / Grigoriy Sisoev/
CHISINAU (Sputnik) - Moldova and Gazprom have agreed to extend the contract on gas supplies to the republic for five years, deliveries will begin on 1 November, the Ministry of Infrastructure and Regional Development of Moldova said on Friday.
"Negotiations between the Moldovan delegation and Gazprom have ended in St. Petersburg. Under the agreement, the contract between Gazprom and Moldovagaz will be extended for five years, using the formula proposed by the Moldovan side," the ministry said on Facebook.
Gazprom has said that the contract was extended on mutually beneficial terms.
Earlier in the day, Moldovan President Maia Sandu told a briefing that she had requested help from Romania, Poland, Germany and Azerbaijan to overcome the gas crisis in the country. Moldova has already struck four deals with the Polish PGNiG, Dutch Vitol, Swiss DXT Commodities and Ukrainian Naftogaz.
The Russian oil and gas company earlier said it would continue supplying gas to Moldova if the country paid its debt in full. According to Gazprom, Moldova's debt for supplied gas currently stands at $433 million ($709 million with overdue payments).
On 22 October, Moldova's parliament introduced a state of emergency in the country due to the energy crisis to quickly allocate funds from the budget for the purchase of additional volumes of gas in order to maintain pressure in the gas pipeline.
On 1 October, Gazprom extended the contract with Moldova for the supply of gas for a month. Moldovagaz reported on 6 October that gas consumption in the country temporarily exceeded the supply of fuel from Russia, which might lead to problems with the supply of electricity.