Moldovan cabinet rules on reorganization of schedule of returning crude oil by two energy enterprises to material reserves agency

Chisinau, 25 January /MOLDPRES/ - The schedule of returning crude oil by the enterprise Termoelectrica and the thermal electric power station Nord (CET Nord) to the Material Reserves Agency has been reorganized till late 2019, under a decision approved by the government today. Termoelectrica is to return 4,200 tons of crude oil to the Material Reserves Agency, offered to the former in 2009 in a crisis situation, and CET Nord is obliged to return 570 tons of crude oil to the state reserve.    

In early 2009, a crisis situation emerged, triggered by the supply of natural gas to Moldova; as a result, the Moldovan thermal electric power stations switched to work on crude oil. According to a cabinet decision, the needed quantities of crude oil were delivered to CETs, as short-term loan.   

In the last years, the energy enterprises were put in impossibility to purchase the needed quantity of crude oil because of big debts to Moldovagaz and dragging the approval of tariffs which would cover the enterprises’ justified spending. On 1 November 2016, Termoelectrica had a debt worth 2.563 billion lei to Moldovagaz, and the debts of CET Nord amounted to 216 million lei. Against the background of these debts, the accounts of the two enterprises were sequestrated by the gas provider.    

The tariffs for CET Nord have not been adjusted since 2011, while for Termoelectrica, they were adjusted as late as in September 2016.  

The two energy enterprises were to return the crude oil to the Material Reserves Agency till 31 December 2016. If the enterprises fail to fulfill their payment commitments, the Agency has right to penalize them. In these conditions, the Economics Ministry proposed to reorganize the schedule of returning the crude oil till late 2019.    

(Reporter V. Bercu, editor L. Alcaza)