Thread by @DionisCenusa

#Moldova_Russia: Further details on the ~50 million euro loan that the Moldovan government (through the state-owned company Energocom) is making to the Moldovan gas operator (50% owned by Gazprom) to pay off current Russian gas debts include the following:⤵️

https://twitter.com/DionisCenusa/status/1582799207416893440

1 ) The money will be disbursed today based on loan and pledge contracts; 2) The maturity of the loan is May 1, 2023, with an interest rate equal to the base rate of the National Bank of Moldova (currently - 21.5% per annum); 3) The guarantee for repayment of the loan and⤵️

interest is the pledge consisting in assigning in favor of the Moldovan government/Energocom 100% participation of Moldovagaz (Gazprom) of the capital in “Moldovatransgaz" and all movable property of the networks of natural gas transport.⤵️

This agreement may allow taking control of the country's transmission network and complete the unbundling (a step towards the total demonopolization of the gas market against the dominant position of Russia on the gas market in Moldova).

Meanwhile, Moldova buys an additional 10 million m3 of gas from unknown sources (si far), but not from Russia, for €997 per 1,000 m3 (formula-based price for Russian gas is $1,031 per 1,000 m3).⤵️

This is an amount that allows strategic reserves to be increased up to 50 million m3 (enough for about 9-10 days in the event of a gas cut). The last volumes of 10 million m3 are stored in Ukraine, other strategic reserves in Romania.