Gazprom and Moldovagaz extend gas supply contracts

Gazprom and Moldovagaz signed supplements to their existing gas supply and transit contracts in Chisinau on 11 November. The documents, signed as part of a working meeting between Alexander Medvedev, Deputy Chairman of the Gazprom Management Committee, and Adrian Candu, Economy Minister of the Republic of Moldova, extend the contracts validity period until late 2015.

The parties addressed the state and the long-term outlook for the Russian-Moldavian cooperation in the gas sector. Special attention was paid to NGV projects.

Background

Between 2007 and 2011 Moldova was supplied with natural gas under the contract dated 29 December 2006 that defined gas volumes and stipulated a gradual increase in prices to bring them to Europe's average level by 2011.Gazprom and Moldovagaz annually entered into contracts on gas transmission via Moldova. Starting from 2012, the terms and conditions of the contracts signed in 2011 were extended. Moldovagaz is a joint Russian-Moldavian company set up by Gazprom, the Moldavian Government and the Industry Ministry of Transnistria.

Adapted from press release by Rosalie Starling

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