The most profitable state-owned company wants to export gas

Publish date: 11-09-2009
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Romania's most profitable state-owned company, the Romgaz Medias gas producer, plans to export hydrocarbon through the Arad-Szeged pipeline, which will become operational in 2010, and through the future Giurgiu-Ruse pipeline, the company's General Manager, Marcel Piteiu, said yesterday.

"Romgaz is interested in explorations in the Black Sea. We are interested in exporting through the Szeged-Arad pipeline. But we will be able to export gas only after the production price is liberalized," Piteiu added. He indicated that Romgaz wants to export gas to maximize profits. At present, gas producers are forced by the state to sell gas at a fixed price approved by the Romanian Energy Regulatory Authority (ANRE), a price which is usually half the international one. Even so, Romgaz posted €145.9 million in net profit last year.

Also, Romgaz wants to get involved in gas exploitation activities in North Africa, the Caspian Sea, and Central and Eastern Europe. At present, the company owns 25 percent of three exploitation perimeters in Slovakia and 30 percent of two perimeters in Poland, where it has a partnership with Aurelian Oil&Gas.

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