Energocom has won the auction for gas supplies to Moldovagaz in May, held on April 23 on the BRM East Energy platform.
This was announced by Moldovagaz Board Chairman Vadim Ceban. He noted that Moldovagaz, as a public service provider and in the context of fulfilling the provisions of the Law on Natural Gas, as well as in order to achieve a balance between the minimum purchase price and gas supply to end consumers, initiated gas purchase for May through the BRM East Energy trading platform. "According to the results of the auction held on the BRM East Energy trading platform on April 23, 2024, Energocom JSC was determined the gas supplier for Moldovagaz JSC for May 2024. According to the auction terms, the supply price will be set on the last day of April this year, while the price formula will be linked to the TTF front month index," Vadim Ceban said. He noted that Moldovagaz will continue to ensure the purchase of natural gas for its consumers at the lowest prices on the market. Earlier, it was reported that Moldovagaz planned to buy 20 million cubic meters of natural gas for May on April 23 at the exchange managed by BRM East Energy. According to the decision of the Commission for Emergency Situations, Energocom sells natural gas to Moldovagaz at a price of 550 euros per 1,000 cubic meters between January and April 2024. However, after the auction held on April 4, the Public Property Agency, as the sole shareholder and founder of Energocom, agreed in April to reduce the respective price to 450 euros per 1,000 cubic meters. Earlier, Energy Minister Victor Parlicov said that from May, Moldovagaz will start buying gas on the Moldovan stock exchange under monthly contracts from those who offer the best price. For the time being, the mechanism of buying gas at the exchange on the terms of monthly contracts will be implemented, and a comparison will be made with Gazprom's prices, and subsequently it is planned to switch to longer contracts, especially when buying gas in winter periods. It is planned that the functioning of the natural gas trading platform in Moldova will provide all economic operators in this field with the possibility to buy and trade natural gas, ensuring transparency of purchases, correctness of prices, as well as stable operation of the wholesale natural gas market in Moldova. Currently, the price of gas from Gazprom is calculated according to a special formula that takes into account two components, in particular, the cost of a basket of oil products (gasoil and fuel oil) and the value of one of the stock exchange indices (TTF front month) in different proportions. In particular, in Q1 and Q4 of each year, 70% of the gas price for Moldova depends on the cost of the oil basket (gasoil and fuel oil), and 30% - on the spot prices for gas at the exchange, while in Q2 and Q3 (April-September) the reverse formula is used, and the gas price is made up of 70% of the average monthly gas price for the previous month and 30% of the price of the oil basket. Earlier it was reported that the purchase price of gas supplied by Gazprom to Moldova in April 2024, compared to the previous month, decreased by $12.48 (-3.7%) - to $327.27 per 1,000 cubic meters. At the same time, Energocom purchased more than 30 million cubic meters of gas at an auction organized on April 4 at a price lower than the one offered by Gazprom to Moldovagaz. It was below $300 per 1,000 cubic meters. // 23.04.2024 - InfoMarket.
