EBRD lends Moldova €400 million to safeguard energy security
Moldova Republic of, July 8 -- The European Bank for Reconstruction and Development (EBRD) is lending €400 million to Moldova's state-owned energy trader JSC Energocom to boost the country's energy security by buying gas and electricity reserves on European markets. The loan is a milestone in the small southeastern European state's successful diversification of energy supply sources.With no domestic sources of energy and no gas storage, Moldova - now a candidate European Union member - was historically heavily reliant on gas imports from Russia through Ukraine. A landlocked country with no major mineral or energy resource, natural gas accounts for 31 per cent of its energy consumption mix, with 70 per cent of gas consumed by household...
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