The Parliament of Moldova has ratified an agreement with the EBRD on a loan of 300 million euros for the purchase of natural gas.
In particular, the deputies approved in the second reading the draft ratification of the Loan Agreement between Moldova and the European Bank for Reconstruction and Development for the implementation of the "Natural Gas Supply Security" Project, signed on June 23. As InfoMarket agency reported earlier, the Moldovan government will attract a loan from the EBRD to create strategic reserves of natural gas and diversify supply sources. This will reduce the risks associated with a possible restriction or cessation of natural gas supplies in the context of the political situation and the evolution of energy markets in the region. It is planned that the first tranche will amount to 100 million euros, and the second - 200 million euros. At the same time, the second, "emergency" tranche will not be allocated by the EBRD at the stage of signing and ratifying the loan agreement, but will be provided only upon request, in case of emergency. In general, the EBRD project “Natural Gas Supply Security” is expected to be implemented until 2025. Under this project, the implementing unit must purchase and store natural gas in underground storage facilities in neighboring countries during the warmer period of the year, when the price of natural gas is lower. Natural gas will be purchased on the basis of tenders organized in the manner prescribed by the EBRD. The implementation of the project will create strategic reserves of natural gas and support the diversification of suppliers and sources of supply in accordance with the provisions of the Natural Gas Law. The EBRD announced earlier about the preliminary qualification selection of companies to participate in the auction for the sale of natural gas to Moldova for EBRD credit resources. // 15.07.2022 — InfoMarket
