As Europe's energy shortage crisis worsens, Moldova is not immune and last week had to declare a state of emergency. However, with no money to pay off Russia's $709 million gas debt and unable to sign a new supply contract, Moldova had to ask Russia for another month's supply of gas.
However, the price of this short-term contract is based on the current natural gas market price. That said, Moldova had to pinch its nose and buy high-priced natural gas for $790/thousand cubic meters. But this was not enough, the country not only bought 1.5 million cubic meters of gas emergency from European companies, but also requested an additional supply of 15 million cubic meters from Ukraine, but Ukraine did not respond.
The latest news on October 28 shows that after the high-priced acquisition of natural gas hit a wall, Moldova also had to return to the negotiating table with Russia, eager to get more gas supply. Discussions are currently underway on the terms of the new gas contract and the debt left over from the old contract.
You know, although Russia promised to extend the gas contract for one month, it also issued an ultimatum to Moldova. If the country fails to pay off its $4.5 billion gas debt by the end of December, Russia will cut off Moldova's gas supply.
At present, Russia has become an "important hope" for Europe to alleviate the energy crisis. As Europe's energy crisis intensifies, natural gas prices have soared 600 percent this year, and there are not a few European countries like Moldova that are in short supply of natural gas and are in dire need of Russia to increase its natural gas supply.
Russia has recently stated that after November 8, Russia will gradually increase its natural gas stocks in many European countries. Once European buyers want to buy gas, Russia is also able to pull out its stocks in time. As soon as the news came out, the price of natural gas fell in response, falling as much as 4.4%.
Text | Lu Jiamin title | Zeng Yunzi Figure | Lu Wenxiang | Lin Jia