Moldovagaz

Moldova, under constant threat of a reduction in Russian gas supplies, will buy a small amount of gas from Greece to test new import routes, state energy company Energocom said on Thursday.

A financial audit report by the Court of Accounts in Moldova on the economic activity of Moldovagaz, Gazprom's subsidiary in Moldova, revealed dubious "non-compliant" expenses of over 2 billion Moldovan lei [100 million euros] between 2011 and 2021.

Moldova will not be able to honour its payment obligations for August for gas from Gazprom, the director of Moldovagaz, Vadim Ceban, told BIRN on Thursday.

"We hope we can get an extension of the payment term. The deadline is August 20, but I think we can also pay on August 22," Ceban told BIRN.

Moldovagaz said on Tuesday it had asked Russian energy giant Gazprom, which holds a 64 per cent stake in the company, for more time to conduct an audit of historical debts beyond a May 1 deadline amid fears of a cut-off in gas supplies.

Romania's government on Wednesday approved a 100-million-euros financial support package for Moldova to help it deal with a looming energy crisis.

Romania's financial assistance comes at a difficult time for its neighbour, after Russian energy giant Gazprom warned it would stop supplying gas to Moldova if its Moldovagaz subsidiary does not pay outstanding debts within two days.

An important new gas pipeline from Iasi in Romania to Chisinau in Moldova, which will link Moldova to the European energy system via Romania and reduce its energy dependence on Russia, is now 90 per cent finished, the Moldovan Economy and Infrastructure Minister, Serghei Raileanu, said on Tuesday.  

Moldova and Ukraine have signed a contract to upgrade gas distribution stations for imports from Romania, stepping up preparations for potential supply disruptions as their gas contracts with Russia come close to expiring.