The state-run Energocom has fully paid the first installment of 100 million euros of the 2022 gas purchase loan received from the EBRD.
According to its report, the total amount of the loan from the European Bank for Reconstruction and Development under the project "Security of Natural Gas Supply" is 300 million euros. This money was used to diversify the sources of purchase of natural gas and create strategic gas reserves of Moldova. Until last year, only Moldovagaz purchased gas on the wholesale market and supplied it to consumers, with Energocom being involved in this process during the energy crisis, when Gazprom threatened the entire Europe with reducing or cutting off gas supplies. Under the terms of the loan agreement with the EBRD, the next payments are due Aug. 1 and Oct. 1. "The revolving credit type is allocated for 3 years. If necessary, at the end of the period after the closure of the first tranche, the same amount of 100 million euros may be available again for new gas purchases, taking advantage of the favorable market situation," explained Energocom Interim Director Victor Binzari. "The EBRD loan is more favorable than domestic market offers. We have a repayment schedule and sales that will allow us to cover it," Victor Binzari added. Under the loan, more than 300 million cubic meters of gas were purchased in 130 rounds of auctions under the EBRD rules with the participation of law enforcement observers. // 15.06.2023 - InfoMarket
