Romanian natural gas producer Romgaz and Bucharest-based thermal energy and electricity producer ELCEN have signed a natural gas supply contract worth some 68 million euros.
The statement from Romgaz said that the signed contract covers the sale of natural gas stored in underground gas storages in the 2021-2022 gas year, intended for the production of thermal energy in cogeneration plants and thermal power plants.
Earlier this month, the Romanian Government increased Bucharest municipality’s debt ceiling by 500 million lei so that Termoenergetica, which operates Bucharest’s district heating network, could pay its debt towards ELCEN.
The Ministry of Energy holds 97.5 % stake in ELCEN, while the remainder is held by Romgaz. The company is under judicial administration since 2018.