Petrom to sell natural gas of RON 19 M on OPCOM


OMV Petrom has launched on the natural gas exchange platform OPCOM a sale offer for 212,000 MWh of natural gas, with the starting price of RON 90.5 per MWh, according to the OPCOM website. The bidding will be held on Monday, April 28. The delivery period is June 1 to June 30, and the natural gas amount is divided into eight contracts of 26,500 MWh each.
Petrom informs that this amount of natural gas comes from the domestic production.
The company also wanted to sell the same amount of natural gas, for the same price, in a bidding which should have taken place on Wednesday, April 23, but it was canceled because nobody was interested in this transaction. So far, Petrom has submitted four offers to sell natural gas on OPCOM, since February, but no contract has been awarded on this platform. Minister-Delegate for Energy Razvan Nicolescu said in an interview for Agerpres in late March that he intended to introduce for gas producers the obligation to trade transparently, in a centralized manner and non-discriminatorily, on a platform in Romania, Agerpres reports.
He stated that the producers are compelled to provide on the regulated market, which covers approximately 45 per cent of total consumption, with the remaining 55 per cent being competitive, eligible market. ‘This eligible market is supplied by bilateral contracts, with producers or suppliers, or suppliers who also have production capacity, or who are supplied from imports, or will have the possibility to purchase on this trading platform. So, some of consumers can negotiate directly their contracts with Romgaz, with Petrom or with Amromco. (…) So we have decreased consumption, producers’ intention to increase production and technical impossibility export, so that a better time to encourage the market’s forces to work and to sit at the negotiating table and to set contracts depending on supply and demand I do not think we can have. Consumers currently have a big negotiating power,’ also said Razvan Nicolescu in the mentioned interview.
18 pc drop in OMV Petrom gas sales in Q1
OMV Petrom’s natural gas sales have dropped by 18 percent this first quarter to 13.47 TWh, mainly due to a milder winter and lower thermal power plant demand, according to a press release issued Wednesday by the Austrian group OMV. In the first three months of last year, Petrom reported natural gas sales of 16.38 TWh.
Lower gas demand and lower deposit extraction levels have determined a decline in the margin profits of Petrom and EconGas, an Austrian division of OMV. The volume of EconGas gas sales dropped by 23 percent in the first quarter compared with the same period last year.
At group level, the volume of gas sold and traded by OMV in the first quarter dropped by 2.9 percent compared with the same period of 2013, from 135.78 TWh to 131.82 TWh, likewise due to lower demand. Trading activities accounted for 71 percent of the gas business. The increase is a result of operations conducted in Norway, New Zealand, Libya, and Pakistan.

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