Moldovagaz reports profits of MDL260 million

After years of losses, Moldovagaz reports a profit of MDL260 million lei in 2016.

According to the natural gas distributor, the growth is due to the transitions to European countries, and to lower technical losses in the grid.

The amount will be used to pay off arrears.

Moldovagaz’s debt to Gazprom was over $6.5 bn later last year, 90 % belonging to entities on the left bank of the Dniester.

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