Ukraine is set to be high on the agenda when US President Joe Biden holds a hotly-anticipated summit with his Russian counterpart Vladimir Putin in Switzerland on June 16.

Measures to limit supply are part of a collective response by oil producing countries to address the drop in demand for oil.

Moldova's economy shrank 7 percent in 2020 due to the pandemic, but the government expects it to grow by 6 percent this year.

The financial details of the cooperation between Ferkensco and Gazprombank have not yet been disclosed, though Ferkensco will implement both projects.