Energocom bought about 300 million cubic meters of gas for current consumption and storage

17:12 | 02.08.2023 Category: Economic

Chisinau, 2 Aug. /MOLDPRES/- Energocom bought this June - July about 300 million cubic meters of gas, which will be used both for current consumption and for storage.

The average gas purchase price, at the purchase points requested by SA Energocom, is 34.5 euros/MWh (about 400 dollars per thousand m3). To this price will be added the costs of transportation to the warehouse, injection, storage, extraction and transportation to Moldova, when these gases are needed.

The purchases were made from Energocom's own sources, in accordance with the provisions of the Regulation approved in this regard by the Company Council. "Due to the high daily volatility of the gas price, which during that period fluctuated between 25 and 41 euros/MWh, but also to avoid financial risks, the decision was made to purchase gas using two different price formulas: the linked formula of the TTF reference index and the fixed price", Energocom said.

During the tenders, more than ten companies submitted bids, and SA Energocom signed contracts with seven entities: OMV Petrom SA, Trafigura Trading Europe, Axpo Bulgaria EAD, DEPA Commercial SA, MET International AG, PGNiG Supply & Trading GmbH, DXT Commodities SA. The prices offered are very close to the average market price.

In order to meet the total natural gas consumption forecast for the 2023-2024 cold season, the following tenders will be held by SA Energocom with the credit of the European Bank for Reconstruction and Development (EBRD), through the "Security of natural gas supply" project.

Within this third stage of the EBRD loan, 11 participation files were submitted, which are currently being evaluated by the tender committee. The final decision to prequalify the participating companies will be made by the EBRD, and subsequently the information about the prequalified companies will be publicly communicated.

In today's meeting, the government adopted the Action Plan for preparing for the 2023-2024 heating season.

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