OREANDA-NEWS. June 27, 2014. Moldova’s Cabinet adopts the resolution to establish Vestmoldtransgaz, the state-owned enterprise to operate gas deliveries through Moldova’s segment of the Iasi-Ungheni interconnector.

The stock association is to be funded by the Economy Ministry, which has to transfer MDL 8 million to the company's equity capital. The new company will administrate the gas deliveries through the Iasi-Ungheni interconnector and transport gas through the territory of Moldova, Vice-premier, Economy Minister Valeriu Lazar said.

In 30 days, the Economy Ministry is to draft and approve the company’s constitutive documents and to ensure its registration as the law requires. The National Energy Regulatory Agency will issue the license making Vestmoldtransgaz the third to Moldovatransgaz and Tiraspoltransgaz company authorized to transit gas through the territory of Moldova.

The equity capital of Vestmoldtransgaz of MDL 8 million will be later increased by adding to it the assets of the Moldovan segment of the interconnector, namely the gas pipeline itself and the gas metering station after they are put into service. Valeriu Lazar reminded that the Iasi-Ungheni interconnector would be the first alternative source of gas supply to Moldova enhancing our country’s energy security.