Romanian energy company Transgaz via its Moldovan subsidiary Vestmoldtransgaz has signed a Lease Agreement to take over natural gas operation, exploitation and transmission in Moldova from Moldovan state-owned company Moldovatransgaz.
Signed on Monday, the agreement confirms Vestmoldtransgaz (VMTG) as the sole licensed operator of the public gas transmission service in Moldova for the next five years from 19 September.
“With this initiative, Transgaz continues its strategic presence in the Republic of Moldova,
contributing to ensuring the strategic interests of the region,” said Ion Sterian, Transgaz’s Director General. “Ensuring the separation and independence of natural gas transmission system operators from vertically integrated companies that produce, distribute, store, trade or supply natural gas is one of the basic objectives for the creation of a liberalised natural gas market in Moldova.”
Vestmoldtransgaz’s action follows Moldovatransgaz’s failure to comply with the unbundling
requirements, which led to changes in Moldova’s legislative framework aiming to strengthen the country’s energy security and align with EU standards.
“With regard to the takeover of the operation, exploitation, dispatching and transmission of natural gas in the Republic of Moldova, we have completed all the necessary formalities required by the legislation of Moldova,” Mr Sterian added. “This move strengthens Transgaz’s role and place in the European gas sector. We were the first multinational company with majority state ownership, through the acquisition of Vestmoldtransgaz and now we are already a player actively involved in ensuring regional energy security.”