Romgaz produces 0.75% less gas in 2008 y/y, seeks Gazprom's assistance in Roman-Margineni project

State-run gas supplier Romgaz produced last year 5.850 billion cubic meters of gas, 0.75 percent less than in the previous year and is now trying to draw the interest of the Russian giant Gazprom for the Roman-Margineni gas deposit feasibility study, informed the company.

The gas production stood in at 5.894 billion cubic meters in 2007 and the estimate for 2009 is of 5.770 billion, 1.27 percent down from last year.

The country's second largest natural gas producer Petrom recorded last year a 3 percent decrease in production versus 2007, of 5.553 billion cubic meters. The hold back was put down to limitations of the transportation network, to temporary shut downs of industrial consumers but also to the few new gassers dug.

Romgaz and Petrom together produce annually about two thirds of the country's required gas.

Petrom is controlled by the Austrian OMV Group. It explores, produces, refines and sales natural gas and oil reserves and operates 550 gas stations nationwide.

Romania used last year 17.3 billion cubic meters of gas, 1 billion more than in the previous year, according to the data provided by the power market watchdog ANRE at the beginning of January.

Romgaz is currently also trying to involve Gazprom's specialty planner in defining some stages of the feasibility study for the Roman-Margineni gas deposit, in order to make the project more attractive for investors.

The matter was brought up during the visit carried out by the Gazprom officials in Bucharest at the end of 2007 and talks are said to be on-going, with the Romanian party hoping for a partnership with the world's largest gas provider.

In accordance to the results of the bid held last summer however, the winning company that should be charged with the study is Petrostar Ploiesti. The contract has not so far been signed, although Romgaz officials promised the deal is still on and will be completed by the end of April.

Romgaz estimates that the investments in this deposit could amount to 500 million euros, while its capacity could reach 2 billion cubic meters.

Romgaz is mainly owned by the Ministry of Economy and deals with extracting and depositing natural gas. Romgaz produces annually about a third of the country's required gas.

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