Romania: Romgaz recorded 196 million euros profit in Q1

, SEE Energy News

Romanian natural gas producer Romgaz recorded a 196 million euros net profit in the first quarter of 2023. That is 1% lower compared to the same period last year.

Revenues dropped by an annual 26% to 586 million euros in the first three months. Expenditures dropped by 56% to 242 million euros. EBITDA rose by 54% to 380 million euros.

In the first quarter of 2023, Romgaz produced 1,236 billion cubic meters of natural gas, 5% less year-on-year, and 323 GWh of electricity, which is a decrease of 6.5%.

Romanian natural gas consumption in the first quarter of 2023 amounted to 38.7 TWh, 12% less than in Q1 2022.

Romgaz planned a total investment of 66 million euros for this year, of which 45 million euros were invested in the first quarter.

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