On 11 December in Chisinau, the Prime Minister of the Republic of Moldova Ion Chicu and European Bank for Reconstruction and Development (EBRD) Managing Director for Eastern Europe and the Caucasus Matteo Patrone signed an agreement. Under the agreement, the EBRD provides financial support to Moldova by arranging a financial safety net with an amount of USD 50 million for emergency gas purchases in case of need.

The Republic of Moldova, which relies on gas from Russia and has no way of storing the fuel, faces the risk of disrupted supply should Russia and Ukraine fail to extend the gas transit agreement, which will expire on 31 December 2019. The financial arrangement will enable the Moldovan state energy importer ‘Energocom’ to purchase one month of natural gas supply from Naftogaz, the national oil and gas company of Ukraine, and as a result, avoid any risk of disrupted gas supply.

EBRD Managing Director for Eastern Europe and the Caucasus Matteo Patrone said: “The financial mechanism that we have agreed on today is yet another demonstration of the EBRD’s commitment to Moldova.”

The Prime Minister of the Republic of Moldova, Ion Chicu said: "The financial arrangement we have signed today will help to complete the set of options Moldova has at its disposal for supplying gas to consumers, in case of an emergency beyond the government’s control.”

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Press release