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Russian gas price for Moldova to rise to $1193 in April

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The purchase price of Russian gas for Moldova in April will rise to $1,193 per thousand cubic meters, said the head of Moldovagaz, Vadim Cheban. In March, the price was $547 per thousand cubic meters.

 “The April purchase price for natural gas, taking into account its calorific value, will amount to 1,193 US dollars per thousand cubic meters for JSC Moldovagaz,” Cheban wrote on his Telegram channel.

He explained that there were several reasons for this growth. Firstly, the price calculation formula will change in April. From April to September, the cost of gas consists of 70% of the average monthly gas price for the previous month (TTF front month) and 30% of the price of the oil basket. Oil prices rose by 15-20% due to the events in Ukraine.
Secondly, the situation in Ukraine also affected the gas sector: in early March, gas prices in Europe renewed their historical highs. The historical price record at TTF, Europe’s key gas hub, was set at $3,892 per 1,000 cubic meters at the auction on March 7. Prices have declined substantially since then, but not enough to offset the abnormal rise earlier in the month.

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