Moldovagaz and Russia’s gas giant Gazprom signed an agreement that extends the period of validity of the current contracts until December 31, 2020, IPN reports.

In a press release, Moldovagaz said the sides signed additional agreements to the contract for the supply of natural gas to Moldova for 2007-2019 and to the contract for the transition of natural gas via Moldova for 2011-2019.

Consequently, the same European formula for setting the purchase price of gas for end users in Moldova, based on the average arithmetic value of the selling price of natural gas by Gazprom to the European countries and the quotations of oil products, will be applied in the period. The other conditions for the supply and transportation of natural gas will also remain unchanged.