Romania, Transgaz recorded a net profit in the amount of 189.5 million euros in the period between 2017 and 2021

, SEE Energy News

Romanian natural gas transmission system operator Transgaz recorded a net profit in the amount of 189.5 million euros in the period between 2017 and 2021, which is by 109 % higher than planned for the period.

The company’s operating revenues in 2017-2021 period are by 7 % or 100 million euros higher than planned. The expenditures in the same period were by 8 % or 103 million euros lower than planned.

The statement from the company said that it is important to stress the fact that the Transgaz management managed to achieve these remarkable results, at the expense of the constraints of the context in which the company operates and carries out its activity. CEO Ion Sterian implemented an opened general management, focused on objectives such as: strategic redefinition of the company, managerial redesign, organizational discipline, responsible and efficient execution of duties, technical- operational measures of organizational intervention.

The Transgaz management, selected in accordance with the provisions of emergency ordinance109/2011, has undertaken an ambitious investment plan, estimated at 3.2 billion euros, so that in the next 10 years, the National System of Transport (SNT) natural gas, so that, in the next ten years, the national gas transmission system can meet the requirements of the European Green Agreement for the modernization and adaptation of the existing natural gas transport infrastructure for the use of hydrogen and other green gases with a view to decarbonization.