Today at Gazprom headquarters Alexey Miller, Chairman of Gazprom Management Committee held a working meeting with Zinaida Grechanii, First Deputy Prime Minister of the Republic of Moldova.

During the meeting Alexey Miller and Zinaida Grechanii discussed Russia produced natural gas supply terms to Moldova in 2006. The parties agreed on the need of shifting to gas supplies pricing which accords to average European levels.

Special attention was paid to the issue of eliminating the republic’s debt for gas already supplied by Gazprom. The issues of preparing for holding Moldovagaz supervisory council meeting scheduled for December 22, 2005, were also discussed.

Reference:

In 2004, Gazprom supplied 2.7 bcm of natural gas to the Republic of Moldova.

In the eleven months of 2005 Gazprom supplied 2.16 bcm of gas to Moldova.

The supplies are facilitated by Moldovagaz, in which Gazprom owns a 50% stake. The rest of the company’s shares is distributed among the government of the Republic of Moldova (35.3%), Pridnestrovye Ministers Cabinet (13.44%) and minority shareholders (1.23%).

The Republic of Moldova (excluding Pridnestrovye) paid for gas supplies in full, the consumers in Pridnestrovye covered only 52% of payments due.

Moldova’s past due payments (excluding penalties) account for US$780 million, including US$560 million owed by Pridnestrovye.