Moldovagaz president Vadim Ceban expects that the price of Russian gas in April could exceed $1,000 for one thousand cubic meters.

Ceban posted on his Telegram account that, according to the calculation formula agreed with Gazprom, in the first and fourth quarters of each year, 70% of the buy price depends on the basket price of oil and 30% on the spot prices of gas. In the second and third quarters, i.e. from April to September, another formula applies, where the buy price is composed, at a ratio of 70:30 percent, of the average monthly price of gas for the previous month and the basket price of oil.

At the same time, in early March, due to the war in Ukraine, gas prices in Europe renewed their all-time highs. The historical record for TTF, Europe’s largest gas hub, was set at $3,892 at the March 7 auction. Prices have fallen sharply since then, but not enough to offset the abnormal rise at the beginning of the month. European gas prices on March 22 are just over $ 1,100.

“True, gas prices in Europe are falling, but it is difficult to imagine how much they need to drop to cover the surge seen at the beginning of March”, said Vadim Ceban.

Despite this, Ceban says Moldovagaz will not rush to request the regulatory authority for an increase in gas rates for final consumers, on grounds that spot prices in Europe are expected to continue falling in April and May.

In March, Moldovagaz bought gas from Gazprom at an estimated price of $547.