News about Gas

Exchange prices for gas in Europe on Monday afternoon sharply accelerated growth – up to 32%, exceeding $515 per thousand cubic meters. The main reason – the world’s largest gas supplier, Qatar’s state-owned energy company QatarEnergy announced that it would stop producing liquefied natural gas (LNG) at all of its facilities due to drone attacks on its facilities.

Romanian Energy Minister Bogdan Ivan claims that the Vertical Corridor could bring Romanian companies additional profits of up to 250 million euros a year.

The global energy sector is bracing for the most significant disruption in four years. As the conflict in Iran escalates, the Strait of Hormuz, the world’s most important transportation artery for liquefied natural gas (LNG), has come to a near standstill. Iran has characterized the waterway as “virtually closed,” effectively blocking 20 percent of the world’s LNG supply.

The military campaign of Israel and the United States against Iran, which began on February 28, increases the risks of supply disruptions and contributes to the growth of oil prices. In this regard, OPEC+ will consider tomorrow, March 1, a larger increase in supply from as early as the second quarter of 2026, Bloomberg reported citing a delegate.

Starting from Monday, March 2, 2026, the Consumer Relations Center of “Moldovagaz” JSC, located in Chisinau at 64, Pushkin St., will suspend its activity.

Budapest and Belgrade have decided not to wait for the resumption of Druzhba and have moved on to the active phase of a joint energy project to build an oil pipeline to pump Russian oil bypassing Ukraine, Logos Press reported.

Moldova and 11 other Central and Southeastern European countries signed a joint declaration with the United States in Washington on strengthening the security of natural gas supplies and ensuring affordable prices in the region, Logos Press reported.

During his visit to Washington, Energy Minister Dorin Junghietu met with representatives of the World Bank (WB) and and Carlyle Group, Logos Press reported.

Greece expects to become the main hub for liquefied natural gas exports to Europe after the EU’s rejection of Russian gas. It has three main trump cards for this, including ties with the US.

Moldova is open to participation in the Caspian-Black Sea-Europe energy corridor project and is also considering the possibility of purchasing liquefied natural gas (LNG) from Azerbaijan, Logos Press reported.

An expert group of the European Commission with the participation of representatives of Ukraine, Hungary, Slovakia and Croatia will discuss the consequences of disruptions in oil supplies through the Druzhba oil pipeline and alternative routes of fuel transportation (including the use of the Croatian Adriatic pipeline), Logos Press reported.

Moldova does not buy Russian gas, and the volumes coming through the Turkish Stream pipeline from Russia to Southeastern Europe are sent exclusively to Serbia, Hungary and Slovakia, Logos Press reported.

The European natural gas market has crossed a milestone: on February 18, gas reserves made in the summer of 2025 were fully withdrawn from underground gas storage facilities (UGS), according to Logos Press.

Hungary and Slovakia announced Wednesday that they have suspended diesel exports to Ukraine amid growing tensions over oil supplies, Logos Press reported.

In January this year, 194.4 million cubic meters of gas were supplied to Moldovan consumers – about 50 million cubic meters more than in December 2025 and the same amount more than in January last year, Logos Press reported.

Beginning April 1, 2026, all large non-household customers will be required to purchase natural gas exclusively on the free market, according to Logos Press.

Representatives of both southern European countries at a recent meeting of EU ambassadors expressed concerns that a move to such restrictions could affect the European shipping industry and energy prices. They also asked for clarification on proposals to impose sanctions on foreign ports for transshipment of Russian oil and to tighten controls on ship sellers, Logos Press reported.

Azerbaijani President Ilham Aliyev said his country is ready to make significant investments in Serbia, emphasizing the growing strategic partnership between the two countries, Logos Press reported.

Gas reserves in the Baltic States have fallen sharply

At the European Industrial Summit in Antwerp, European Commission President Ursula von der Leyen defended the European Union’s carbon trading system (ETS). But she faced opposition from the leaders of Germany and France, who believe the high cost of allowances in the ETS threatens the economy and jobs, according to Logos Press.