Romania, Transgaz recorded a net profit in the amount of 54 million euros in Q1 2022

, SEE Energy News

Romanian natural gas transmission system operator Transgaz recorded a net profit in the amount of 54 million euros in the first quarter of 2022, which is a 70 % increase compared to the same period last year.

The company’s operating profit rose by 35 % year -on-year reaching 49 million euros, while the operating revenues remained approximately the same at 92.4 million euros. Operating expenditures fell by 23 % year-on-year to 43.3 million euros in the first three months of 2022.

At the Group level (which consists of the parent company, its Moldovan subsidiary Eurotransgaz and Moldovan gas transmission system operator Vestmoldtransgaz) net profit reached a little over 54 million euros in the first quarter, a 67 % increase year-on-year.