Gazprom’s Headquarters today has hosted a meeting between Alexey Miller, Chairman of Gazprom’s Management Committee and Vasily Tarlev, Prime Minister of the Republic of Moldova.

The parties reached an accord to settle before this year’s October all issues relative to the conclusion of a long-term contract for gas supply to the Republic of Moldova. Under the contract, the price of gas will be determined under market-based principles through a pricing formula. Starting from the 3rd quarter of 2006 Russian gas supply to Moldova is projected to be priced at US$ 160 per 1,000 cu m.

The parties addressed the prospects for Gazprom’s involvement in investment projects in the Moldovan energy sector. Vasily Tarlev highlighted the work being done by Moldova’s legislative bodies to create a tax preference system for the implementation of investment projects.

Reference:

In 2005 the Republic of Moldova has received from Gazprom 2.82 bcm of gas.

Moldova’s gas debt (excluding penalties) to Russia averaged US$ 687.13 mln including US$ 565.3 mln owed by the Transdnestr Region.

Over the first half of 2006 Russian gas was piped to Moldova at US$ 110 per 1,000 cu m.