Moldova signs contract for gas supplies from Greece, depriving Gazprom of another market

7 April, 06:45 PM
Moldova concluded a framework contract for the supply of gas from Greece (Photo:jorono / pixabay)

Moldova concluded a framework contract for the supply of gas from Greece (Photo:jorono / pixabay)

Moldova continues to pry Moscow’s fingers from its affairs by having its state-owned Energocom sign a gas supply contract with Greek gas operator DEPA, Moldova’s Energy Minister, Victor Parlicov, announced after visiting Greece, Interfax-Ukraine reported on April 7.

The agreement is believed to have been signed on April 6 during Parlicov’s visit.

"Greece is the main gateway in southern Europe for liquefied natural gas, more than half of which comes from the United States," he said.

"The Moldovan state-owned company Energocom is the first, and so far the only, company in the world that has practical experience using the Greece-Bulgaria-Romania-Moldova-Ukraine ‘vertical corridor’," the minister stated.

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“Last season's experience of Energocom using the Greece-Bulgaria interconnector showed the feasibility of using the Trans-Balkan gas pipeline in reverse mode.”

Moldova had purchased gas exclusively from Russia until Autumn 2021, when the country started to diversify, relying especially on supplies from Romania.

Moldova and Greece's cooperation in the natural gas sector will make it possible to better utilize underground gas storage facilities in Ukraine to improve the security of gas supply to Central Europe in winter. Thanks to the contract between Energocom and DEPA, Moldova "will be able to purchase gas, taking advantage of favorable market conditions," Parlicov said.

The EFET (European Federation of Energy Traders) contract is a framework contract that precedes any sale and purchase agreement. The conclusion of such a contract is mandatory for companies operating in the European Union, Energocom noted.

"Greece today is a strategic center in terms of available energy sources," said Energocom's acting director Victor Binzari.

“It has one liquefied natural gas terminal, and the second one will be ready by the end of the year. This terminal receives gas from several geographical locations, from the East, the United States, and Africa, and the prices are favorable.”

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