Moldovagaz and Gazprom agree new gas supply contract in principle

14/11/2019 08:59 Natural Gas

news

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.

Source: neftegaz.ru

EU basks in 17GW solar boom

11/12/2019 08:34:00

Almost 17GW of new solar capacity has been added in the EU this year, an increase of 104% on 2018, according to a report from SolarPower Europe.

<READ MORE

Daily (10.12.2019): German spot electricity price soars 61% on Monday on lower wind output

10/12/2019 10:43:00

Crude oil prices lost ground on Monday as exports from China shrank for a fourth straight month, escalating concerns about U.S.-China trade war over the global economy. Brent crude eased 14 cents, or 0.2%, to settle at $64.25 per barrel, after a gain of about 3% last week on news that OPEC+ would deepen output cuts. WTI crude oil lost 18 cents, or 0.3% to close at $59.02 a barrel on NYMEX.

READ MORE

EDF clean power tops 2GW in France

10/12/2019 09:19:00

EDF Renouvelables has reached the 2GW milestone for wind and solar capacity in France, following a record year for onshore wind for the company in the country.

READ MORE