Romania: Decreased profit at Transgaz in Q1 2021

, SEE Energy News

In the first quarter of 2021, Romanian natural gas transmission system operator Transgaz recorded a net profit in the amount of 31 million euros, which is 23 % lower compared to the same period last year.

The company’s operating profit was 25 % lower year-on-year, reaching 36.5 million euros, while its operating revenues fell by an annual 11 % to 92.5 million euros in the first three months of the year. The fall in revenues was influenced by lower transmission fees. On the other hand, operating costs before increased by 1 % year-on-year to 56 million euros in the first quarter.

Transgaz recorded a net profit in the amount of 46 million euros in 2020, which is by 34 % less compared to the previous year. The company’s operating revenues fell by 15 % to 273.2 million euros in 2020, while operating costs fell by 11 % year-on-year to 225.5 million euros. In 2020, Transgaz transported 145.6 million MWh of natural gas, which is 9 % lower compared to the previous year.