Petrom CEO: Decision to force producers to sell gas on exchange distorts the market


The decision of the authorities to force gas producers to sell part of the production on the exchange distorts the market, as there is not enough demand for this order to be fulfilled, said Mariana Gheorghe, CEO of Petrom, in an interview granted to Agerpres

‘This decision is proof that we do not have a liquid market, and this administrative intervention of course distorts our commercial activities, especially since we have big clients, with certain particularities, we have a regulated market, that also has its particularities. So an intervention on a certain segment distorts the other segments’, said the Petrom official.

According to Mariana Gheorghe, it is very hard to define the optimal mandatory percentage to be sold on the exchange.

According to Government Emergency Order 35/2014, starting with July 15, 2014 and until December 31, 2018, natural gas producers in Romania have an obligation to sell part of their production on the exchange market. According to an order of the National Energy Regulatory Authority (ANRE), this quota is of 20 percent of the company’s own production destined for the competitive market

 

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