The Moldovagaz company will not be able to get through this winter without the help of the Chisinau government, because the price of gas is simply too high to be fully transferred to consumers, said Vadim Ceban, the president of the Board of Directors of the state company from the Republic of Moldova .
“Without the support of the state we cannot cover the cash gap even if we turn to commercial banks. No company can survive the crisis without the help of the state. We redirected certain financial flows and took money from our distribution companies to pay for gas to Gazprom. Basically, 40% of the funds went here,” he said, during the “Regional Approach – Chisinau” conference, organized by Energynomics.
Between October 2021 and September 2021, the purchase price of natural gas included in the tariff increased from $148.6/1,000 cubic meters to $899.1/1,000 cubic meters. At the same time, the company bought gas at increasingly higher prices, from $759.2/1,000 cubic meters and ended up paying $1,882.8/1,000 cubic meters. During the same period, on the TTF platform in the Netherlands, the gas price, including the gas transportation tariff, doubled, reaching 2,443 dollars/1,000 cubic meters. Ceban emphasized that the purchase of natural gas from the Dutch stock exchange would mean a much higher cost compared to the one requested by the Russian supplier Gazprom.
The natural gas procurement costs of Moldovagaz in the period from October 2021 to September 2021 were 690 million dollars, and the costs included in the regulated tariff, approved by ANRE, were at the level of 560 million dollars. Thus, the difference between the price of gas delivered by Gazprom and that of gas traded on the FTT is 522.3 million dollars.
In order to be able to continue supplying the country with gas in the context of the sanctions imposed on gas imports from Russia, Moldovagaz has worked much more closely with the energy regulator in Chisinau and with the relevant ministry and will continue to reduce expenses through renegotiations with suppliers. Thus, the company asked its energy-intensive customers to pay for natural gas in advance, and their average level reached 47.17% (economic agencies – 28.4% and the thermal energy sector – 65.3%). More than 4,000 consumers have been transferred to prepay for natural gas, and 11,500 consumers are subject to disconnection for non-payment of natural gas.
“We hope to maintain the supply from Gazprom from October 1, although there are certain unresolved issues. However, we managed in September to approve the tariffs at the level of cost recovery and an important thing for suppliers and creditors is to know that we are solvent”, stated Ceban.
Conferința „Abordare Regională Chișinău” a fost organizată de Energynomics cu susținerea partenerilor noștri: BRM East Energy MD, Huawei, Kawasaki Gas Turbine Europe, Schneider Electric, Transelectrica, Transgaz.