Moldovagaz yet to find money to pay debt to Gazprom

CHISINAU, Nov 23 (PRIME) -- Moldovan gas distribution company Moldovagaz is yet to find money to pay a U.S. $74.2 million debt to Russian gas giant Gazprom, Deputy Prime Minister and Infrastructure Minister Andrei Spinu said on Tuesday on his Twitter page.

“As of the moment, the debt exceeds $74.2 million. So far, Moldovagaz has not found a commercial solution for redemption of the debt,” he said.

The debt accumulated because the country bought gas for U.S. $790 per 1,000 cubic meters in October, while the consumer tariff amounted to $148 per 1,000 cubic meters. The government was in contact with Moldovagaz to find a solution, he said, adding that the government guaranteed that the Moldovans will not be left without gas.

On Monday, Gazprom’s official representative Sergei Kupriyanov said that the company had notified Moldova that it could suspend supplies in 48 hours unless the bill due on Monday is paid because a recent contract envisages 100% payment for the current bills. Moldovagaz CEO Vadim Ceban said that the company asked the government for a $74 million loan to pay the debt.

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