New ROMGAZ Branch in the Republic of Moldova
On May 16, 2024, ROMGAZ Chisinau Branch was registered with the Public Services Agency of the Republic of Moldova in the State Register of Legal Entities.
By Resolution No. 32/2024, ROMGAZ Board of Directors approved the establishment of a natural gas supply branch in the Republic of Moldova and its registration under the name ‘Societatea Nationala de Gaze Naturale ROMGAZ S.A. Medias – Chisinau Branch’.
“The registration of ROMGAZ Chisinau Branch is part of the actions that the company carries out in order to expand the gas supply activity at regional level, an objective set out in the company’s strategy for the period 2021 – 2030. ROMGAZ wants to contribute to ensuring the security of natural gas supply in the Republic of Moldova, and the step taken today ensures the premises for achieving this goal,” Razvan Popescu, ROMGAZ CEO, said.
“In the near future, ROMGAZ will take the necessary steps to obtain the license to supply natural gas on the territory of the Republic of Moldova. We are convinced that the presence of ROMGAZ in the Republic of Moldova and the trading of natural gas on the centralized market in the Republic of Moldova will effectively contribute to the liberalization of the natural gas market in this country and to the creation of the necessary conditions to establish a real price for the benefit of consumers,” Aristotel Jude, ROMGAZ Deputy Chief Officer, added.
About ROMGAZ
S.N.G.N. ROMGAZ S.A. is the largest natural gas producer and the main supplier in Romania. The company is listed on the Bucharest Stock Exchange and GDRs are traded on the London Stock Exchange. The majority shareholder is the Romanian State owning a 70% stake. The company has vast experience in the field of gas exploration and production, with a history that began in 1909 and spans more than 100 years. ROMGAZ undertakes geological exploration with the aim of discovering new gas reserves, produces methane by exploiting the reservoirs included in the company’s portfolio and stores natural gas in underground storages; it performs well interventions, workover, and special operations, and ensures technological transportation professional services. In 2013, ROMGAZ extended its scope of work by taking over Iernut thermoelectric power plant, becoming an electricity producer and supplier.
On August 1, 2022, Romgaz became sole shareholder of ROMGAZ BLACK SEA LIMITED (established ExxonMobil Exploration and Production Romania Limited), following the completion of the sale transaction, and the transfer of all issued shares (representing 100% of the share capital of) ExxonMobil Exploration and Production Romania Limited, which holds 50% of the acquired rights and obligations under the Petroleum Concession Agreement for the Deep Water Zone of XIX Neptun offshore block located in the Black Sea.
