Gazprom PJSC is demanding $709 million for supplies and late payment penalties from Moldovagaz SA, where it’s a majority shareholder and Moldova’s government holds a 35% stake. But Moldova proposed paying only $8.6 million to end the spat after an audit conducted by Norway’s Wikborg Rein and the UK’s Forensic Risk Alliance.
The audit showed that a large part of the debt, which centers on the period of 1991-2002, lacks proof because the Russian giant failed to provide the requested documents and includes “exorbitant” penalties, the Moldovan government said in a statement Wednesday. Now, it has enough of the fuel in storage to last until the end of December, according to Spinu, and will continue to accumulate volumes to make sure the entire winter’s consumption is covered. For electricity, Moldova will most likely continue to rely on neighboring Romania on top of the power it gets from Transnistria, he said in Bucharest on Thursday.