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Gazprom and Moldova Discuss New Gas Supply Contract

Source: www.gulfoilandgas.com 11/3/2011, Location: Asia

The Gazprom headquarters hosted today a meeting between Alexey Miller, Chairman of the Company's Management Committee and Vladimir Filat, Prime Minister of the Republic of Moldova.

The parties reviewed the progress in collaboration on determining the parameters of a new gas supply contract. It was noted that the further discussion would be based on Moldovan proposals regarding Gazprom's participation in the investment projects in the Republic of Moldova.

Background

Moldovagaz was established in 1999. Gazprom controls a 50 per cent stake in Moldovagaz. The remaining shares are owned by the Government of the Republic of Moldova (35.3 per cent), the Cabinet of Ministers of Transdnestr region (13.44 per cent) and individuals (1.23 per cent).

In December 2006 Gazprom and Moldovagaz signed a gas supply contract for 2007–2011. In 2007, according to the document, the price was USD 170 per 1,000 cubic meters of gas, from 2008 to 2011 the price was calculated according to the market-based principles, while between 2008 and 2010 discount rates were used in determining the price.

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