The Moldovan company BRM East Energy, a subdivision of the Romanian Commodity Exchange, has announced the successful completion of the first transactions on the free gas market in Moldova.
This is an absolute premiere on the Moldovan market, but a common practice on natural gas markets in the European Union, the company said in a statement. The transactions were carried out in June on the medium- and long-term standardized products market, GasForward, at public tenders. The transactions were conducted in accordance with the procurement procedure approved by ANRE. Transautogaz and Natural Gaz DC were the first Moldovan companies to successfully conduct purchase and sale operations on the platform operated by BRM East Energy, and the largest volumes were sold to National Power Corp. All natural gas volumes sold came exclusively from the European market. The transactions resulted in an average price of 1,185 lei/MWh, equivalent to 12.49 lei per 1 cubic meter of natural gas, excluding VAT. BRM East Energy said it aims to further participate in the process of liberalization of the natural gas market in Moldova and modernization of the Moldovan economy. Using BRM East Energy's trading services, price stability will be achieved and the Moldovan market will be linked to the European market which has a much higher ability to absorb local shocks caused by imbalances between supply and demand, reducing their impact on end-users. At the same time, the promotion of fair and efficient competition among natural gas suppliers in Moldova proposed by the BRM East Energy platform will lead to greater transparency, competitive pricing for final consumers, and a stable and sustainable environment for diversification of natural gas procurement sources and increased energy security in Moldova. In this context, BRM East Energy will support all the companies in Moldova interested both in buying gas for own consumption and in selling/delivering gas, joining and participating in the national gas market under conditions of maximum transparency, efficiency and competitiveness. // 04.07.2023 - InfoMarket.
