BUSINESS

Romgaz and GDF Suez Energy sign underground gas storage contract

The Romgaz National Natural Gas Company and GDF Suez Energy Romania have signed a contract worth RON 44.442 M, VAT included, for the underground storage of natural gas, according to a Romgaz report remitted to the Bucharest Stock Exchange (BVB) on Tuesday.

The contract will be implemented from 16 April 2015 to 15 April 2016.

According to National Energy Regulatory Authority (ANRE) data, the minimum reserve of natural gas that the 63 licensed suppliers have the duty to set up in underground storage deposits by October 31 this year totals 18.727 million MWh. The minimum reserve for household consumers totals more than 7.535 million MWh and the biggest quantities are set to be stored by GDF Suez Energy Romania (3.606 million MWh) and E.ON Energie Romania (3.19 million MWh).

For thermal energy producers, the minimum reserves that have to be stored in order to be used by cogeneration plants and thermal power plants for household consumption alone total 3.198 million MWh. The biggest reserve will be stored by Romgaz (1.822 million MWh).

In what concerns non-household consumers, the minimum reserve surpasses 7.992 million MWh, the biggest reserves set to be stored by OMV Petrom Gas (1.947 million MWh), GDF Suez Energy Romania (1.674 million MWh), Interagro (1.247 million MWh) and Romgaz (1.156 million MWh).

 

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