Economics Ministry confirms 17-per cent decrease of price for natural gas imported by Moldova

Chisinau, 31 July /MOLDPRES/ - Moldova will pay 210.21 lei per 1,000 cubic meters of natural gas imported from Russia in the third quarter of 2015, less by 42 dollars than in the second quarter of this year.

"The import price decreased by 17 per cent compared to April-June this year. Gas concern Gazprom informed Moldovagaz that, in the third quarter, it would deliver natural gas to Moldova at a price of 210.2 dollars per 1,000 cubic meters," the Economics Ministry’s information and media communication service has reported.

According to the ministry, "the annex to the contract on the terms of supplying natural gas, signed in November 2014, provides a quarterly review of the price based on the average price of gas supplied by Gazprom to Western Europe countries and stock values for petroleum products - gasoil and heating oil".

Moldovagaz Company’s data shows that the price of gas was reduced to the lowest level in the last five years. In January 2010 ,Moldova was purchasing gas at a price of 231 dollars per 1,000 cubic meters which successively increased in the coming quarters and peaked at 402 dollars in the fourth quarter of 2011.

The price of gas delivered to Moldova by Gazprom has fluctuated at about 380 dollars per 1,000 cubic meters in 2014.

Under a decision adopted on 18 July, the National Agency for Energy Regulation has increased the natural gas rate for end consumers by an average of 15.4 per cent. "Although we are purchasing gas at a lower price, this decline does not cover the difference formed as a result of the leu's depreciation," said Moldovagaz representatives at a public meeting.

A few days after ANRE’s approval of the decisions on tariff adjustment, Moldovagaz was dissatisfied that the accumulated financial deviations due to the depreciation of the national currency against the dollar had not been taken into account while setting the new rate and warned ANRE’s board of directors about a possible appeal of its decisions in court.

More experts believe, however, that the increase in gas tariffs is not justified, the acquisition price, recalculated in Moldovan lei, is lower than in September 2011, when the old tariff had been established. The purchase price was 368 dollars for 1,000 cubic meters in the third quarter of 2011.

(Reporter V. Bercu, editor M. Jantovan)