Latest news with #Energocom
Reuters
4 days ago
- Business
- Reuters
Russia's Gazprom denounces Moldova move to alter gas supply system
Aug 7 (Reuters) - Russian gas giant Gazprom ( opens new tab on Thursday denounced a move by Moldova's gas authority to withdraw the licence from its local subsidiary for distributing gas, saying the move damaged its affiliate and jeopardised Moldova's energy security. Moldova's gas regulator, the National Agency for Energy Regulation, this week said the licence to distribute gas had been withdrawn from Moldovagaz, 50% of whose shares belong to Gazprom, and turned over to the state-run Energocom company. Distribution of gas to 800,000 consumers, it said, would be taken over by Energocom from September 1. The dispute centres on what Gazprom describes as Moldova's failure to pay at least $709 million in arrears for gas supplies, mainly from state-run industries. Moldova, citing audits, says it owes no such debts, which were the focal point of a halt of gas supplies in January. The cutoff, which coincided with an end to gas transit through Ukraine, halted gas supplies for weeks to homes and industry in Transdniestria, a pro-Russian separatist region on Moldova's border with Ukraine. Gazprom, in its latest statement, said Moldova had failed to resolve the debt issue, adding the gas concern had issued proposals to find a solution to the arrears. "The Moldovan government has introduced a series of measures leading to, in the final analysis, the forced reorganisation of Moldovagaz ... a sharp rise in gas prices and, as a consequence, a decline in the country's energy security," Gazprom said. Gazprom said it would continue "to defend its lawful rights and interests with all available means." Moldova has long been in dispute with Gazprom over prices and what the Russian gas giant describes as arrears. It has actively sought to reduce reliance on Russian supplies and clinched agreements to purchase gas from suppliers in Europe. It said its decision was taken as Gazprom was demanding payment of arrears it did not recognise and was failing to implement changes demanded by the European Union on separating responsibility for transporting and supplying gas. Moldova's pro-European government is seeking EU membership by 2030. Moldovagaz Chairman Vadim Ceban said this week the issues were "political" in nature and therefore out of the company's control.
Reuters
08-07-2025
- Business
- Reuters
EBRD lends Moldova 400 million euros for energy security
CHISINAU, July 8 (Reuters) - The European Bank for Reconstruction and Development announced a 400-million-euro ($468-million) loan on Tuesday to Moldovan state-owned energy trader Energocom for buying gas and electricity reserves on European markets to boost the country's energy security. The move follows a decision by Russian energy company Gazprom to halt gas deliveries to Moldova this year, citing unpaid debt. The new package consists of a 300-million-euro senior working capital loan for energy purchases and 100 million euros in guarantees to be issued by the EBRD on behalf of Energocom to eligible EU suppliers, the EBRD said. "These will be guaranteed by the Republic of Moldova and will enable the company to acquire natural gas and electricity ensuring continuing stable energy supply nationwide," it said. The southeast European nation of about 2.5 million people has been dependent on Russian gas for decades but has moved to diversify supply following Moscow's full-scale invasion of Ukraine. The pro-Russian breakaway region Transdniestria continued to use Russian gas after the invasion, but has faced an energy crisis since Gazprom stopped deliveries on January 1 after Ukraine refused to renew a transit agreement. The EBRD has invested more than 2.5 billion euros in Moldova through 183 projects, it said. ($1 = 0.8552 euros)
