Moldova agrees to pay $8.6 million of $709 million gas debt to Gazprom

Moldova agrees to pay $8.6 million of $709 million gas debt to Gazprom

The government of Moldova has agreed to repay only $8.6 million of a $709 million gas debt owed to Russian energy company Gazprom (MCX: GAZP ), according to the country's Minister of Energy, Viktor Parlikov. This significant reduction in the repayment amount was announced on Wednesday and follows a series of international audits.

Parlikov stated that as of the end of March 2022, Moldovagaz, a subsidiary of Gazprom in which the Moldovan government holds a minority stake, owed a total debt of $709 million. He clarified that this debt pertained only to the right bank of the Dniester and excluded Transnistria.

However, Parlikov also detailed that out of the total debt, $276 million remained undocumented by both parties - Gazprom and Moldova. Furthermore, he claimed that an additional $400 million was not subject to recovery due to the expiration of the statute of limitations.

Moldovan Prime Minister Dorin Rechan supported Parlikov's stance, expressing his unwillingness to pay what he referred to as "non-existent" debts to Gazprom. "The Republic of Moldova is not going to pay non-existent debts and Moldovan citizens obviously do not have to pay these invoices," Rechan said in a statement quoted by Sputnik Moldova.

This development comes after Gazprom had previously reserved the right to halt gas supplies to Moldova due to the outstanding debt. The final decision on the repayment sum may significantly impact the future relationship between Moldova and the Russian energy giant.

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