Moldovagaz and Gazprom agree new gas supply contract in principle

14/11/2019 08:59 Natural Gas


Moldovagaz has agreed in principle a 3-year extension to its existing supply contract with Gazprom, the Moldovan company said, Platts reported.

Moldovagaz, which is majority owned by Gazprom, said the 2 parties "have reached an agreement and are ready to sign, as soon as possible, the annexes to the supply agreement." The existing agreement between the 2 expires on December 31, 2019, the same date as the expiry of the transportation contract between Russia and Ukraine, which is under negotiation.


This new extension to the agreement between Moldovagaz and Gazprom will last until December 2022, but will not be signed until transportation arrangements are finalized.


Moldovagaz is "ready to receive" 12.4 million cu m/d (4.526 billion cu m/year) after joint operations with Bulgaria, Romania, Ukraine and Moldova, the statement said, and that "the Romanian and Ukrainian side have already officially completed all of the works."


Alternative delivery points are common practice in long-term gas sales agreements, with the first proposed option in this instance for receiving gas at the Russia-Ukraine border also a potential resolution for gridlocked tri-lateral talks between Russia, Ukraine and the EU.


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