Moldova may not be able to redeem debt to Gazprom

CHISINAU, Nov 10 (PRIME) -- Moldova may not have enough money to repay its debt to Gazprom, Moldova’s gas company Moldovagaz CEO Vadim Cheban said at a briefing on Wednesday.

“After the audit, we will agree on a debt restructuring plan with Gazprom. We have a specific plan to repay the debt to Gazprom within five years, including at the expense of internal reserves, which may not be enough,” Cheban said.

He said that the company estimates the gas price at about U.S. $430 in December–January.

“We have a forecast for December and January. The purchasing price of gas will stand at about $430. These forecasts form the basis of the tariff, which was preliminarily approved by the National Energy Regulatory Agency,” Cheban said.

Cheban said he hopes that Moldova will secure a better gas price in the future.

He also said that Moldovagaz may soon turn to Gazprom for a new contract.

“Soon we will probably ask Gazprom to conclude a new contract. We have 19 addendums to the contract, it’s very inconvenient, it will probably be easier to sign a new contract,” Cheban said.

End %%aiu/jst%%