UPDATE 2: Gazprom says debt settled with Moldova, but risks remain

(Rewrites throughout)

MOSCOW, Nov 26 (PRIME) -- Russian gas giant Gazprom has the received payment from Moldovagaz covering the Moldovan gas company’s U.S. $74 million debt for gas supplies, but is concerned whether the country will be able to pay for gas in the future, Gazprom said in a statement on Friday.

“Moldova has paid its current payments. Gazprom showed goodwill and gave a postponement, although it had every reason to stop supplies. Problem solved,” Gazprom said.

However, the company is concerned about Moldova’s solvency.

“The very fact that budget funds were required to pay for gas signals systemic problems in Moldova’s energy sector. This means that the non-payment crisis may occur again. We expect that the Moldovan side will take exhaustive measures to normalize the situation and ensure stable execution of contractual obligations to Gazprom in full,” the company said.

Moldovagaz said earlier in the day in a statement that it “has transferred payment to Gazprom for natural gas consumed in October and the first half of November of this year.”

Earlier in the day, Moldova’s Prime Minister Natalia Gavrilita said that the government has approved debt payment to Gazprom, and later the Moldovan company announced having transferred the funds to Gazprom.

On Monday, Gazprom said it would suspend supplies to the country in 48 hours if it does not receive payment for the period ending on Monday. On Tuesday, the company agreed to wait until Friday.

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