Gazprom and Moldovagaz have extended the terms of the gas supply and transit contracts in force until the first quarter of 2012.
In December 2006 Gazprom and Moldovagaz signed the gas supply contract for 2007–2011. Pursuant to the document, between 2008 and 2010 the price was calculated under the formula based on market principles, while discount rates were used in determining the price between 2008 and 2010.
Gazprom and Moldovagaz annually enter into contracts for natural gas transit across Moldova.
Moldovagaz was established in 1999. Its shareholding structure is as follows: Gazprom (50 per cent), Government of the Republic of Moldova (35.33 per cent), Cabinet of Ministers of Transdniestria (13.44 per cent) and minority shareholders (1.23 per cent).
[mappress]
LNG World News Staff, January 03, 2011