Business news from Ukraine

There is no electricity in Moldova either

Mass power outages have begun in Moldova due to damage to the Ukrainian energy system, Deputy Prime Minister and Minister of Infrastructure and Regional Development Andrei Spynu said.
“Today we have a repeat of the situation of November 15. After the damage to the Ukrainian energy system in the last hour, we have mass power outages across the country. Moldelectrica is working to restore electricity connections,” Spynu wrote Wednesday on social media.

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Moldova banned cryptocurrency mining

The Commission for Emergency Situations of Moldova has banned cryptocurrency mining in the country, as well as the import of equipment for it.

According to the decision of the Commission on Emergency Situations, this is one of the measures taken in connection with the energy crisis.

Among other measures – the requirement for the owners of the premises to use heating devices so that the temperature in the room during working hours does not exceed 19 degrees, and outside of working hours – 15 degrees. Also, the owners of the premises will have to abandon advertising, decorative and architectural lighting, as well as turn off the fountains.

In addition, indoor escalators must be suspended from 7 am to 11 am and from 6 pm to 11 pm.

At the end of October, Moldova faced an energy crisis after Ukraine stopped exporting 30% of the electricity needed by the country, and the Moldavskaya GRES cannot supply the contracted 70% due to the reduction in gas supplies to Moldova from Gazprom. So far, urgently during the period of shortage, Moldova buys electricity from Romania.

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Border Service of Ukraine warns of possible interruptions in operation of checkpoints with EU and Moldova

Interruptions are possible in the work of checkpoints on the border with the European Union and Moldova, the State Border Guard Service of Ukraine has warned.

“Due to enemy shelling and damage to critical infrastructure facilities in western Ukraine, there may be interruptions in the operation of checkpoints on the border with the EU and Moldova,” the State Border Guard Service said in the Telegram channel on Monday.

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Moldovan GTS operator introduced virtual reverse with Ukraine

From September 28, 2022, the Moldovan GTS operator confirms nominations for natural gas transportation in the form of a virtual reverse (backhaul) at the Grebenniki junction, the GTS Operator of Ukraine said on Friday.

“OGTSU has been working with partners for a long time to implement this opportunity. The long-awaited implementation of the virtual reverse by Moldova opens the way for the transportation of natural gas along the Trans-Balkan corridor in both directions,” said Andrey Prokofiev, head of the department for work with customers of OGTSU services.

The potential capacity of the Trans-Balkan corridor is up to 20 billion cubic meters. m per year. The route opens up the possibility for customers to import gas from LNG terminals in Turkey and Greece.

“The Trans-Balkan Corridor opens up opportunities not only for Ukraine. Benefits through access to new gas markets open up for the countries of Central and Eastern Europe with the ability to store the resource in underground gas storage facilities in Ukraine,” added Olga Belkova, Director for Cooperation with Government Agencies and Organizations.

The GTS operator of Ukraine hopes for a legislative settlement of the possibility of transportation in the form of a backhaul on a long-term basis.

As reported, from August 1, 2022, the OGTSU increased the volume of the possibility of measuring natural gas at the Grebeniki junction (between Ukraine and Moldova) by 1.5 times – from 3.96 to 6.12 million cubic meters. m per day, thereby ensuring that Ukraine fulfills all the prerequisites for launching the Trans-Balkan corridor.

An increase in natural gas measurement volumes in the future opens up more opportunities for both Ukrainian and European traders. Namely, customers of the EU countries will be able to import gas via the Trans-Balkan corridor from LNG terminals in Greece and Turkey through the territory of Ukraine to Hungary, Slovakia, Poland.

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Romania, Moldova and Ukraine will sign an agreement to increase electricity trade volumes

Ukraine, Moldova and Romania have agreed to sign an agreement to increase cross-border capacity to increase electricity trade, Ukrainian Foreign Minister Dmytro Kuleba said.
“We reached several important agreements today to develop our relations in the energy sector, and our teams will continue to work on their implementation. In particular, we agreed to sign a trilateral intergovernmental agreement on increasing cross-border capacity to increase the volume of electricity trade,” Kuleba said at the meeting. press conference in Odessa on Thursday.
Kuleba drew attention to the fact that the meeting in the format of the Ministers of Foreign Affairs and Ministers of Energy of Ukraine, Moldova and Romania is taking place for the first time.
“Three of our countries, and immediately foreign ministers and energy ministers. There is a very clear reason and goal for this – we want to build qualitatively new relations in the energy sector between our three countries, and this will be important not only for energy, but also for security and prosperity in our region,” the minister stressed.
Currently, Ukraine exports electricity to Moldova in the amount of about 165 MWh, with a possible maximum of 600 MWh, and to Romania – 150 MWh.

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Moldova to buy some gas in Romania

Moldovan state company Energocom will buy 10 million cubic meters of natural gas for $16.6 million from Moldovagaz, which gets gas from Russia’s Gazprom, Deputy Prime Minister and Infrastructure and Regional Development Minister Andrei Spinu said on his Telegram channel, citing a decision made by the country’s National Commission for Emergency Situations.
“This transaction will also enable Moldovagaz to pay the advance for August by September 1,” Spinu said.
It was reported earlier that the the National Commission for Emergency Situations, which is chaired by Prime Minister Natalia Gavrilita, had ordered state company Energocom to buy 10 mcm of natural gas for storage in Romania.
The gas will be purchased and delivered under a framework EFET (European Federation of Energy Traders) type purchase-sale contract between Energocom and Moldovagaz, the government’s press service told Interfax.
For the first tranche of 5 mcm, the purchase price will be about $1,459 per 1,000 cubic meters. The second tranche of the gas purchase will be made in September at a price of $1,881 per 1,000 cubic meters.
The gas will be stored in neighboring Romania, as Moldova does not have its own gas storage facilities.
Moldovagaz was unable to pay an advance to Gazprom for supplies in August and the Russian company agreed to defer the payment to September 1. Moldovagaz said that current gas rates in the country do not cover its purchase price.
The commission also decided to allocate MDL 322 million from the state budget to increase Energocom’s charter capital.

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