Policy Measures to Protect the Interests of Citizen-Investors in Natural Gas Distribution Networks

The roadmap has seven steps. First, all infrastructure built under the programme would be inventoried and revalued with owners' consent, locality by locality. An investment company would then take over the assets and issue securities to investors in proportion to their value. An independent valuer would reconcile the valuations of this company and of S.A.”Moldovagaz” affiliates, whose assets were last revalued in 2008. All distribution assets would then be merged into one enterprise with two founders, which would obtain a licence and operate the networks.

In parallel, investors' property must be registered. Networks without a defined owner would first go on local public authorities' balance sheets, and those able to prove their contribution would have an optimal two years to claim their rights. Each locality would receive a fixed share of the investment company, from which securities would be transferred to investors. Once primary registration is complete, the company's shares would be admitted to free trading on the capital market.