The new contract with Gazprom stipulates the price formula proposed by the Moldovan delegation, which is based on a particular ratio of the market prices of gas and oil. As it is a commercial relationship between Moldovagaz and Gazprom, the formula will be made public if the two companies decide to do this. Based on the current market prices, for November the price of gas will be about US$450 per 1,000 cubic meters of gas. Later the price will decline depending on the gas quotations on stock exchanges, said Deputy Prime Minister Andrei Spînu, Minister of Infrastructure and Regional Development, who negotiated the new contract with Gazprom, IPN reports.

In a post on Facebook, the official said the signed protocol does not stipulate any political conditions and does not mention the Transnistrian region.

As to the debt of Moldovagaz, it was agreed to conduct an independent audit at the company in 2022. Following the audit, the size of the debt will be determined and new talks will be held to agree the debt repayment schedule.

“What is important for the citizens and for businesses is that we will have sufficient amounts of gas as from November 1, at a price that is at least twice lower than the current market price. The enterprises will continue operating and the people will have heat in homes,” said Spînu. He noted he will give a news conference on November 1 to provide more details.

The talks between the Moldovan delegation and Gazrom ended on October 29. The last round of October 27-29 held in St. Petersburg ended with the signing of a contract under which supplies to Moldova will start on November 1. The contract was signed by Deputy Prime Minister Andrei Spînu and Gazprom chief Alexei Miller.