The Moldovagaz losses in 2015 worth over 3.1 billion lei. They will be returned from the coming years incomes. The decision was taken by the shareholders of the company.

The writes that Moldovagaz will reduce it losses to zero if the National Agency for Energy Regulation approve a new methodology for calculating the gas’ tariffs.

Also Moldovagaz has hired an auditing company, which will analyze the annual financial reports of current year.

In April Moldovagaz administration issued a press release announcing that the losses were caused by the NAER tariff policy. The Agency hasn’t changed the unprofitable gas prices from 2011 to 2015, including the debts of the heating sector.

 "The currency exchange difference was based on the reporting date of paying Moldovagaz’s debts to the Gazprom and Factoring-Finans LLC. For the reference, at the end of 2014, the official rate in Moldova was 15.6152 lei for 1 dollar, during the 2015 the rate increased by 25.9%, and at the end of 2015 it was 19.6585 lei for 1 dollar. Therefore, the depreciation of the national currency had a negative impact on currency exchanging settlements with the Gazprom", – it’s mentioned in the press-release.

The existing tariff methodology generates losses for the Moldovagaz and its related companies because of the reduction of gas losses norms in the distribution networks included in the tariff.

The Moldovagaz was founded in 1999. Its social capital is 1.333 billion lei. 50% of shares belong to the Gazprom, 35.33% – to the Republic of Moldova and 13.44% – to the Transnistrian administration. Since 2009 the Tiraspol authorities did not pay anything for the provided gas so their current debt is about 5 billion dollars.

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