Romania: Romgaz gets gas supply contract with E.ON

, SEE Energy News

Romanian state-owned natural gas producer Romgaz announced that it has signed a 42.8 million euros worth contract with the local subsidiary of German energy company E.ON.

This signing represents an addendum to a contract initially signed back in 2015 and increases the value of the original contract from 113.22 million euros to 116.85 million euros. This new natural gas supply agreement will be valid until 30 September 2016.

E.ON Romania recorded a turnover of 1.1 billion euros in 2015. In comparison, the company achieved a turnover of 1.08 billion euros in 2014, while planned turnover for this year amounts to 1.11 billion euros. The level of investments in Romania reached about 100 million euros last year, and the company plans similar level of investment in 2016 as well.

Currently E.ON Romania supplies gas and electricity to more than 3 million clients in Northern Romania and manages 81,000 kilometers of power grid and 20,000 kilometers of gas distribution network in Romania. German company entered the Romanian market in 2005, transmits