Norway and Moldova signed a memorandum to strenghten energy cooperation

Norway and Moldova signed a memorandum on Tuesday to expand energy cooperation, aiming to secure energy supplies for Moldova, which seeks to reduce its traditional dependence on Russia.

The memorandum aims to “stimulate and enhance cooperation in the energy sector,” focusing on energy transition and security, as well as encouraging new investments in this field.

The agreement was signed in Oslo by Norwegian Energy Minister Terje Aasland and his Moldovan counterpart Victor Parlicov during a two-day visit by President Maia Sandu. It covers cooperation at both the governmental and private sector levels, according to Agerpres.

Moldova, one of the poorest countries in Europe, is highly vulnerable to the effects of the war in Ukraine. In contrast, Norway has become Europe’s largest supplier of natural gas after Russia’s reduced deliveries.

Norway provides financial support to Moldova through its aid program, which includes billions of dollars for Ukraine and 400 million kroner (around $36.87 million) for gas purchases in 2023.

Although the agreement mentions gas supply security as an area of interest, the main focus is on renewable energy, electrification, and cybersecurity.

Moldova has increased the share of renewable sources in its electricity consumption to 10.5% in 2023, up from 3.6% in 2021, thanks to photovoltaic and wind power plants, according to official data.