Energocom company of Moldova purchases over 170 million cubic metres of gas at weighted average price of 355 dollars since early 2024

Chisinau, 21 August /MOLDPRES/ - The Energocom company during 1 January - 15 August 2024 purchased about 1.82 million MWh of natural gas, which is equivalent of about 171 million cubic metres. The weighted average price for all procurements of 2024 is of 30.98 euros/MWh or 355.23 dollars per 1,000 cubic metres.   

Both own sources of the company and the Norwegian grant Nansen were used for buying the aforementioned quantities of gas.   

According to the enterprise, the biggest volumes of gas were purchased in August – over 828,000 MWh (or about 78 million cubic metres) and in last April – 400,000 MWh (37 million cubic metres).

Most gas procured by the Energocom stock company in 2024 was sold to the Moldovagaz stock company following tenders initiated by the enterprise on the platform of the Chisinau-based branch of the Romanian Commodity Exchange, BRM East Energy. Over 85 per cent of all gas bought in 2024 was purchased based on applications of the Moldovagaz stock company for the current consumption or for the winter period. The other quantities procured by Energocom this year was stored or sold on the free market.      

At the same time, during January-April 2024, Energocom sold gas to Moldovagaz also from the stocks purchased for the previous cold season, based on the Instruction by the Commission for Emergency Situations.    

Energocom noted that the transport costs and other logistic expenses were added to the purchasing prices for gas.

Twenty one rounds of tender were organized for the procurements from 2024, of which 12 were successful. The gas was bought from six companies from Europe.  

The transactions on procurement took place either on the Romanian Commodity Exchange or observed the rules of the European Bank for Reconstruction and Development (EBRD). Representatives of law-enforcement institutions, Energy Ministry, Public Property Agency and civil society were invited to all tenders organized.   

Starting the last April, the Energocom stock company has actively participated in transactions organized by BRM East Energy and has been selling natural gas on the free market. As of 1 January 2025, all big consumers will be obliged to buy gas on the free market and on this period, ever more economic agents migrate to the BRM platform which is active.  Six tenders are held just during this week.