Moldova signs gas deal with Romania, less reliance on Russia

MarketsAssociated Press

Romania has signed a 92-million-euro ($107-million) deal with Moldova to supply it with Romanian gas that will lessen its dependence on Russian gas.

Romanian national gas transporter Transgaz finalized the transaction to acquire Vestmoldtransgaz Thursday in a ceremony in the Moldovan capital attended by Romanian Economy Minister Danut Andrusca and Moldovan counterpart Chiril Gaburici.

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Gaburici said it would increase energy security and he hoped "this will be a defining step in integrating Moldova in the European Union."

Under the deal, the 120-kilometer (75-mile) pipeline from southern Moldova to the capital Chisinau will be completed likely by the end of 2019.

Moldova currently gets some 95 percent of its natural gas from Russia.