Gazprom Cuts Gas Price for Moldova in Q1

Russian gas giant Gazprom has cut by about 20% the price for the gas it exports toMoldovain the first quarter of 2015, Moldova's economy ministry said on Tuesday.

Moldova will pay about $311 (275 euro) per 1,000 cubic metres of natural gas imported from Russia, compared to $376 paidin thefourth quarter of 2014,the ministry said in a statement.

Gazprom revises the price of its gas deliveries to Moldova on a quarterly basis, factoring in the average purchase price in Europe and fluctuations of global oil prices.

Moldova has no gas deposits of its own and covers all of its gas needs by importing the fuel from Russia.

In December, however, Moldova's Energocom signed a deal to startimporting gas from Romania's OMV Petrom Gas viaa cross-borderpipeline linking Romania's Iasi to Moldova's Ungheni. The price was set at around $277 per 1,000 cubic metres.The gas pipeline,which can carry 1.5 billion cu m of natural gas per year, was intended toprovide the ex-Soviet countrywith access to natural gas from the common European market, as an alternative to Russian supplies, which come through Ukraine.

Source: SeeNews