Moldova natural gas market sees record low concentration amid liberalization

The natural gas market in the Republic of Moldova underwent significant structural changes during the first half of 2026 due to gradual sector liberalization. According to reports from the National Agency for Energy Regulation (ANRE), the country imported 597.1 million cubic meters of natural gas between January and June, representing a 7% increase compared to the same period in 2025 and a 21.2% increase over 2024.

Market concentration has decreased sharply. In the first quarter, suppliers with public service obligations held 94.2% of the market, but by the second quarter, this share dropped to 47.3%. Conversely, competitive market suppliers increased their share from 5.8% in Q1 to 52.7% in Q2. This shift resulted in the lowest Herfindahl-Hirschman Index (HHI) concentration level in the country's history.

Trading activity has also intensified, with 729 transactions recorded on the SPOT market in the first six months. Major importers included Energocom, which held an 82.5% share, followed by Energocom Trading, Transautogaz, ERU Aurora, and Natural Gaz D.C.