Russia raises gas price for Moldova

The price of gas delivered by the Russian Federation to Moldova has increased 12.4 percent starting today, Chairman of the Executive Board of the Russian-Moldovan joint venture Moldovagaz Gennady Abashkin was quoted by RosBusinessConsulting as saying. According to preliminary data, Russian gas will be sold at roughly $211 per 1,000 cubic meters, Abashkin said. He added, however, that the exact price would be determined by April 10, once the data on the dynamics of oil product prices over the past nine months has been gathered. Abashkin pointed out that the gas price for Moldova is calculated on the basis of a formula indicated in the long-term contract with Russian Gazprom, which provides for quarterly price revisions. Earlier, Moldovan gas distributors have asked the National Agency for Energy Regulation (ANRE) to accept a new increase in end-user tariffs, from 8 to 12 percent, due to higher import prices.