Romania, Romgaz recorded a net profit in the amount of 234 million euros in the first nine months

, SEE Energy News

Romanian natural gas producer Romgaz recorded a net profit in the amount of 234 million euros in the first nine months of 2021, which is by 22.7 % higher compared to the same period last year.

The company’s revenues in the first nine months of the year increased by 19.8 % year-on-year, reaching 707.5 million euros. Revenues from natural gas sales rose by an annual 25.6 %, while revenues from underground gas storage operations dropped by 30.7 %. Revenues from electricity sales increased by 27.5 % year-on-year in the January-September 2021 period.

Romgaz produced 3.706 billion cubic meters of natural gas in this period, which is 15.9 % more compared to the same period in 2020, while electricity production dropped by 31 % to 426 GWh.

Romgaz recorded a net profit in the amount of 257 million euros in 2020, which is a 15 % year-on- year increase. The company’s revenues decreased by 20 % to 835 million euros in 2020. Revenues from natural gas sales dropped by 25 %, while revenues from underground gas storage operations rose by 13 %, as well as revenues from electricity sales, which increased by 30 % in 2020.

In 2020, Romgaz produced 4.519 billion cubic meters of natural gas, which is 14 % less than in 2019. On the other hand, electricity production almost doubled in 2020, reaching 937 GWh.

Romanian state is the largest shareholder in Romgaz with 70 % stake.