Romania, Romgaz are to approve the company’s development strategy for the 2021-2030 period, SEE Energy News
The shareholders of Romanian natural gas producer Romgaz are to approve the company’s development strategy for the 2021-2030 period.
Romgaz’ strategic objectives are to reduce carbon emissions, as well as emissions of methane and other gases by at least 10 % (by 2030 compared to 2020 levels), an annual decline in gas production of less than 2.5 %, an EBITDA operating profit margin between 25 and 40 % and a ROACE (return on invested capital) rate of at least 12 %.
Among one of its priorities in the next decade, the company envisages investments in electricity generation from renewable energy sources. Romgaz targets a total installed capacity of 180 MW in solar power plants. Of this, 60 MW should be operational by 2023.
The strategy also envisages investments in cogeneration projects and the use of green hydrogen.