Moldova Imports US-sourced LNG, but No Words about Electricity

World | April 24, 2024, Wednesday // 13:06
Bulgaria: Moldova Imports US-sourced LNG, but No Words about Electricity

Author: Vitalie Platon

In recent years, Moldova has been faced with the challenge of reducing its dependency on Russian gas imports. However, Moldovan state-owned gas supplier Energocom has taken a significant step towards diversifying its energy sources by importing test volumes of liquefied natural gas sourced from the United States. The LNG was sourced through Greek gas supplier DEPA Commercial and delivered to Moldova via the Greek Alexandroupolis port. This move marks an important development for Moldova as it seeks to decrease its reliance on Russia, which has historically provided a significant portion of the country's energy needs.

Energocom's trial of American LNG through the Greek partnership signifies a major shift in Moldova's energy strategy. By exploring alternative sources such as US-sourced LNG, Moldova is not only diversifying its energy imports but also reducing its vulnerability to geopolitical pressures from Russia.

The successful import of test volumes of LNG from the United States showcases Moldova's commitment to enhancing its energy security and resilience. This initiative is particularly significant given the current geopolitical tensions in the region and the imperative for Moldova to bolster its energy independence.

Moldova state-owned gas supplier Energocom said it has imported test volumes of liquefied natural gas (LNG) sourced from the United States via Greek gas supplier DEPA Commercial in a bid to wean off Russian gas. The LNG was delivered via the Greek Alexandroupolis port, Energocom said in a press release.

"In total, there are about 28,000 MWh, which is the equivalent of 2.6 million cu m of gas. These are the gases needed for current consumption and the price is competitive. If we agree to a formula for the continuation of this collaboration, we will notify citizens in the near future" said Victor Binzari, Energocom's interim CEO.

In the context of the war in Ukraine, the European Union supports the reduction of dependence on Russian gas imports. Thus, from the European perspective, energy imports from Russia do nothing but finance the war in Ukraine. However, Victor Binzari seems not to be decided to give up Russian gas imports for good, bringing to attention the competitiveness of prices. However, the European Union strongly supports the reduction of member states' dependence on Russian imports, Moldova being one of the main beneficiaries. Although Energocom has signed the memorandum of understanding with DEPA Commercial, Victor Binzari, Energocom's interim CEO, seems not to have decided to definitively give up Russian energy.

Another interesting aspect is Victor Binzari's decision to sell to Moldova-Gaz at 48% higher prices. In other words, through this decision taken by Energocom's interim CEO, Moldova-Gaz is tacitly pushed to continue its contractual relationship with Gazprom, benefiting from much lower prices. Therefore, Victor Binzari's decisions do nothing but indirectly finance Gazprom.

Moldova still buys electricity generated in a Transnistrian power plant using Gazprom's gas. Victor Binzari gave no indication that this would change. That means either Binzari intends to continue buying from Russia and play against the EU or, perhaps, there is no decision yet. Anyway, buying from Russia any type of energy means supporting and financing the Russian war against Ukraine.


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