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Moldova in the world

Moldovan energetic dependence

As of 1 June 2004, Republic of Moldovan debt for natural gas supplied by “Gazprom” amounted to 1.2 billion USD, including fines. According to “Moldova-Gaz” press service, Moldova’s debt on expired payments together with fines on them amounted to 305.2 million USD, whereas that of Transdnistria — 961.2 million. Electro-energetic companies, such as CET-1, CET-2, “Termocom” continue to be the major debtors.

Gazprom Deputy Chair Aleksandr Reazanov stated during the annual shareholders meeting of “Moldova-Gaz” that “Moldova-Gaz strategic objective in 2004 should be developing a scheme for restructuring previously incurred debts to Gazprom”. Reazanov said such a scheme should provide for restructuring the debt for 5–10 years, thereby paying back the debts in money or transferring into Gazprom property Moldovan industrial assets.

“Moldova-Gaz” President indicated that the fines for expired payments exceed 2.5 times Moldova’s debt for gas supplied in 2003. Independent domestic observers point that Moldovan authorities are well aware of the fact that imports from Russia are more than “imports” and that those relations may not be explained by simple maximization of profit since Russian part is more insistently demanding the majority stake in a domestic company in exchange for its debt. Therefore, political considerations seem to dominate the economic ones.

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