Obligation as to stocks of gas increased to 15 per cent of Moldova's annual consumption

Chisinau, 1 November /MOLDPRES/ - Till 1 October of each calendar year, volumes of gas will be bought and stocked in EU member countries or parts of the Energy Community, which is to fit a level of at least 15 per cent of the average annual consumption of gas of the end consumers from Moldova, calculated for the last five years. The obligation is provided for in the amendments to the Law on natural gas, approved by the government today.     

According to data by the Energy Ministry, in the last five years, Moldova (right bank of Dniester) has consumed an average of about 1 billion cubic metres of gas; respectively, the stocks will amount to about 150 million cubic metres, which are envisaged for emergency situations. The level of stocks of 15 per cent of the consumption is to be provided by the holder of the obligation of stocking, nominated by the government, starting from 1 October 2024.        

Thus, the cabinet is to impose to a provider of natural gas or a trader, which has experience in making transactions with natural gas and their stocking, the obligation to stock a certain quantity of natural gas. The exact quantity is to be established by the government.   

Through this measure, the Energy Ministry is set to attenuate the price-related shocks as to the natural gas, as the gas is procured in the summer period, when prices are usually low, in order to be used in winter, thus providing the consumers with accessible and predictable prices.   

The holder of the obligation of stocking will buy natural gas through a competitive procedure of procurement or with the observance of the rules used on the natural gas markets, on the platforms of trading on which they purchase natural gas. Exceptionally, the holder of the obligation of stocking can buy natural gas through contracts negotiated directly, on condition that the competitiveness of the purchasing price is proved to the National Energy Regulatory Agency.     

Another provision included in the amendments to the Law on natural gas regard the component of equity – a notion which implies a single payment collected from a consumer, if the provider is changed and if the financial deviations of the provider exceed the value of 5 per cent of the regulated income.   

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