Page 9 - FSUOGM Week 04 2022

FSUOGM POLICY FSUOGM

Moldovagaz pays gas bill

to Gazprom in full

MOLDOVA MOLDOVA’S gas transport and distribution executive to pay the end-user subsidies for the
company Moldovagaz, with financial support months of January-March in advance to Moldo-
Moldova again faced from the government, managed to pay in full the vagaz. It also deferred budget payments Moldo-
the prospect of having $63mn advance payment required by Gazprom vagaz should make in connection with the gas
its gas supply cut off. for the natural gas deliveries scheduled for Janu- imports as well as the claims state-owned energy
ary, thus avoiding an interruption of the gas flows supplier Energocom holds on Moldovagaz.
to the country. Eventually, on January 20 Moldovagaz paid
Previously, Gazprom gave Moldovagaz until the last $34.375mn left from the bill to Gaz-
the end of day on January 20 to pay the bill, or prom and due that day, avoiding gas supply
face having its gas supplies cut to zero from 9am interruptions.
on January 21. Deputy Prime Minister Andrei Spinu said
"According to the information obtained, Gaz- that the government will keep supporting the
prom has reasonable doubts about the ability of population with higher subsidies if needed,
Moldovagaz to ensure, within the contractual to help Moldovagaz pay the February bill to
terms, the full payment for the volumes granted. Gazprom.
Failure to make the payments will constitute a “We are going through an energy [gas] cri-
breach by Moldovagaz of the contractual provi- sis that is not generated by us but that directly
sions," a letter sent by Gazprom to Moldovagaz affects us all. The government will meet all its
and to Moldova’s government on January 18 commitments and will be close to the people in
reads. the first place. We will further compensate for
On January 20, Moldova’s lawmakers at the any tariff increases and ensure that gas reaches
government’s request approved a state of emer- every home. We will get over this crisis as well.
gency for a 60-day period, which allowed the Spring is close," Spinu said. ™

PROJECTS & COMPANIES

Caspian reports "encouraging"

deep well result

KAZAKHSTAN LONDON-LISTED junior Caspian Sunrise maximising output from the shallow wells.
reported on January 25 “encouraging” initial Caspian Sunrise also reported that its output
Deeper drilling is production results from the A8 deep well at the came to 1,462 bpd in 2021, only slightly down
costlier, but potentially BNG contract in Kazakhstan. from 1,495 bpd in the previous year. It has been
will yield greater The company said that production from an eventful few weeks for the company. On Jan-
rewards. the first of three intervals averaged around 120 uary 6 it announced it was suspending oil drill-
barrels per day over several days, adding that it ing and production activities due to civil unrest
continued work to establish the well’s full pro- across Kazakhstan that was sparked by rising
duction potential. Shares in the company were fuel prices. But operations were resumed only
4% in early trading following the announcement. four days later.
The BNG asset includes the shallow MJF Meanwhile, the company disclosed on Jan-
structure, which is already in production, and uary 19 that its former CFO had sold his entire
deeper zones that Caspian Sunrise has been 10.5% stake in the company. Kairat Stylganov
test-flowing. The deeper drilling needed to held the position between 2013 and 2018.
target these zones is costlier, but the rewards Caspian Sunrise also said that Hamda Ahmed
are potentially much greater. But the company Al Marri had bought a 3.5% interest, while
has suffered deays and technical setbacks at its Alyazeyah Ahmed Al Marri had increased his
deep wells, and has therefore focused mostly on position to 3.5%. ™

Week 04 26•January•2022 www. NEWSBASE .com P9