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In preparation for the new heating season in June-July, Energocom purchased 300 million cubic meters of gas at an average price of $400 per 1,000 cubic meters.

In preparation for the new heating season in June-July, Energocom purchased 300 million cubic meters of gas at an average price of $400 per 1,000 cubic meters.

This was announced by the state-owned company, noting that this "blue fuel" will be used both for current consumption and for storage. The weighted average gas purchase price at the points of purchase requested by Energocom is 34.5 euro/MWh (about $400 per 1,000 cubic meters). To this price will be added the costs of transportation to the storage, injection, storage, production and transportation to Moldova when this gas is needed. Based on the limited capacity of gas transportation to storage facilities, various delivery points were selected, and the most profitable solutions from a financial point of view were identified. Purchases were made from the own funds of JSC Energocom, in accordance with the provisions of the Regulations approved by the Council of the company. Due to the high daily volatility of the gas price, which fluctuated between 25 and 41 euros/MWh during this period, and in order to avoid financial risks, it was decided to buy gas using two different price formulas: the formula linked to the prices of the TTF gas hub ( Title Transfer Facility), and a fixed price. Over 10 companies submitted bids during the auctions, and Energocom signed contracts with seven companies: OMV Petrom SA, Trafigura Trading Europe sarl, Axpo Bulgaria EAD, DEPA Commercial SA, MET International AG, PGNiG Supply & Trading GmbH, DXT Commodities SA. Representatives of the Public Property Agency (founder of JSC Energocom), the Ministry of Energy, the Prime Minister's Control Service, law enforcement agencies and civil society took part in the auction. To replenish the volumes of natural gas projected for the 2023-2024 heating season, Energocom will hold new tenders and purchases at the expense of the loan from the European Bank for Reconstruction and Development under the “Natural Gas Supply Security” project, in accordance with the provisions of the Regulation approved by the EBRD. As noted, Energocom is currently "on the last hundred meters" of the third stage of pre-qualification organized for potential gas suppliers, offering the opportunity to participate in tenders to as many companies as possible in the European energy market. Greater competition will make it possible to conclude deals at much better prices. As part of the third stage of gas purchases using the EBRD loan, 11 applications for participation were submitted, which are currently being evaluated by the tender commission. The final decision on the pre-selection of participating companies will be taken by the EBRD, after which information about the companies that have passed the pre-selection will be made public. //02.08.2023 – InfoMarket.

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