Moldova Seeks Long-Term Gas Deals Amid High Energy Prices

Moldova's Prime Minister Vasile Tofan has announced plans to secure long-term natural gas supply contracts with several producers, including Azerbaijan and Qatar. The move comes as the country prepares for the next winter amid high energy prices, which have exceeded €84 per megawatt-hour this year.

Tofan stated that Moldova will seek out suppliers where it can find affordable gas, adding that the government cannot control international gas prices. Currently, European TTF prices have exceeded $1,000 per 1,000 cubic meters, while Moldova had initially budgeted for gas at around €30 per MWh this year.

The prime minister noted that negotiations with potential suppliers will be challenging, as Moldova aims to secure prices below current market levels. The country has already contracted more than 90% of the gas it expects to need for the winter, but a significant portion of those volumes is indexed to TTF prices.