Energocom will grant Moldovagaz a loan of over 1 bn. lei to ensure energy security

The state company Energocom will grant Moldovagaz a loan worth over one billion lei to ensure energy security and continue the supply of natural gas in Moldova.

The amount will be disbursed on October 20, after the signing of the contracts. The decision in this sense was approved by the Exceptional Situations Commission, said Deputy Prime Minister Andrei Spînu, Minister of Infrastructure and Regional Development, quoted by ipn.md.

According to the minister, this measure will allow the full payment by Moldovagaz to Gazprom of the gas consumption for the month of September and the advance for October. The amount granted is 1,050 million lei with the base rate of the National Bank of Moldova (21.5% annually). The loan must be repaid by May 1, 2023.

“The real guarantee for the repayment of the loan and the payment of interest is the full pledge, in favor of Energocom, of Moldovagaz’s 100% shares in the share capital of Moldovatransgaz together with any assets transferred to it for economic management by Moldovagaz, according to the pledge contract with enforceable formula “, wrote the deputy prime minister.


The loan agreement will be concluded without the prior approval of the boards and/or their general meetings.

“We acted through the Exceptional Situations Commission with a derogation from the provisions of the law that would require the decision of the Board of Directors to approve this pledge,” said Prime Minister Natalia Gavrilița.

She also said that “if the loan of one billion fifty million lei that Energocom offers to Moldovagaz is not repaid by May 1, 2023, the state will take over natural gas transmission networks.”

Currently, the gas transport networks in the Republic of Moldova belong to the Russian concern Gazprom, having been ceded by the Moldovan governments a long time ago.

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