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September 29, 2022

Transgaz reports 12pct declining H1 2016 net profit

The SNTGN Transgaz SA Medias national natural gas transmission corporation has reported 281.77 million lei in H1 2016 net profit, down 12.37 percent from H1 2015, according to a financial report submitted to the Bucharest Stock Exchange (BVB) on Tuesday.

The corporation’s business turnover was down at 814.54 million lei in the first half of 2016, from 821.38 million lei in the first half of 2015, with the transmitted amount of natural gas down 9 percent to 5.873 billion cubic metres.

Transgaz also reported investment of 37.759 million lei in the first six months of 2016, out of a total 2016 investment of 721.902 million lei.

Transgaz is Romania’s national natural gas transmission corporation, in which the Romanian Government holds a 58.5-percent stake, with the remaining shares traded on the BVB.


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