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    Romania 9M Gas Consumption Rises

Summary

Romania’s main gas marketer Romgaz has pointed to a continuing strong increase in the country’s overall gas consumption.

by: Mark Smedley

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Natural Gas News, Europe, Corporate, Exploration & Production, Political, Supply/Demand, News By Country, Romania

Romania 9M Gas Consumption Rises

Romania’s main gas marketer has pointed to a continuing strong increase in the country’s overall gas consumption.

After declining by 4.6% in 2015 and rising by 1.9% in 2016, Romanian gas consumption increased by roughly 12% year on year in January-September 2017 to 89 terawatt-hours of gas (8.3bn m3), said Romgaz. Three months ago it reported 1H2017 national gas consumption was 22% higher year on year at some 7bn m3.

Romgaz said in company results November 14 that its own 9M2017 deliveries to the national market increased by 35% to 42.9 TWh (4bn m3), raising its market share from 40% to 48.2%.

While OMV-Petrom is the main upstream gas producer in Romania, state-owned Romgaz also produces and said its 9M2017 production reached 3.75bn m3, up 24% year on year. Romgaz also increased power production by 62% to 1,465.5 TWh, a Romanian market share of just over 3%.

Romgaz 3Q2017 net profits were 221% higher at new lei 316.1mn ($60.4mn) which compared with new lei 98.4mn in 3Q2016. Romgaz’s 9M2017 profit was 66% higher at new lei 1184.1mn ($226mn).

 

Mark Smedley