Energy Contracts and Gas Supply Agreements Signed by SA ‘Energocom’ and SA ‘Moldovagaz’ for 2024

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LENINGRAD REGION, RUSSIA JULY 27, 2021: A gas measuring unit at the Slavyanskaya compressor station (operated by Gazprom), the starting point of the Nord Stream 2 offshore natural gas pipeline. A gas treatment unit has been launched at the station. The Nord Stream 2 pipeline will supply gas from natural gas fields in the Yamal Peninsula from where main pipelines have been laid to the Slavyanskaya compressor station. According to Russia's Deputy Prime Minister Alexander Novak, the construction of Nord Stream 2 will be completed by the end of this year. Peter Kovalev/TASS (Photo by Peter KovalevTASS via Getty Images)

“SA ‘Energocom’ and SA ‘Moldovagaz’ have signed the natural gas purchase-sale contract to cover the needs of consumers on the right bank of the Dniester River during the period of January-April 2024, as reported by IPN.

The contract stipulates the delivery of an estimated volume of 451 million cubic meters of gas at a price of 550 euros per thousand cubic meters. According to ‘Energocom,’ the price may be reduced later.

In the contract signed by the two companies at the end of June 2023, the supply of a total volume of around 480 million cubic meters of gas was envisaged by the end of the last year, at a preliminary weighted average price of about 600 dollars per thousand cubic meters.

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Additionally, ‘Energocom’ has signed purchase-sale contracts for electricity with universal service providers, last resort suppliers, and system operators, which foresee the delivery of electricity for the period of January-December 2024. The electricity supplied by ‘Energocom’ will be mainly purchased from MGRES at a price of 66 USD/MWh, from CHPs and RES, energy producers from the European market, and if necessary, to cover the electricity deficit, it will be procured from the OPCOM exchange.”