The period of validity of the current contracts for the supply and transportation of natural gas to the Republic of Moldova by Gazprom was prolonged for a year. The announcement was posted by the public relations service of Moldovagaz on the company’s website, IPN reports.

According to the quoted source, the given documents were approved in the meeting of the company’s Supervisory Board and were signed in the agreed order.

A year ago, on December 31, 2019, the sides also extended the contracts for a year. During the period of their validity, it is applied the same European formula for setting the purchase prices of natural gas, which is based on the average arithmetic value of the selling price of natural gas supplied by Gazprom to European countries and the quotations of oil products, noted the supplier.

In 2018, the Republic of Moldova bought gas at an average annual price of US$217.46 per 1,000 m3. A year later, the average annual price rose to US$233.67 per 1,000 m3.