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Romania May Import Gas Directly From Russia In 8 Yrs – Econ Ministry

Romania might import gas directly from Russian natural gas monopoly OAO Gazprom (GSPBEX.RS) in about eight years, when the local gas production diminishes and the imported gas supply reaches 50% of the country’s consumption, a director in the Ministry of Economy and Finance said Tuesday.
10 iun. 2008, 14:48, English

Romania, via its gas pipeline operator Transgaz (TGN.RO), plans to connect the local gas systems with the ones in the Republic of Moldova, Hungary, Bulgaria, Serbia and Ukraine.

Romania’s national gas consumption stands at around 17 billion cubic meters per year. Almost one third of the country’s yearly consumption is indirectly imported from Russia, while the difference is ensured by the two local gas suppliers, Romania’s largest vertically integrated oil company Petrom (SNP.RO) and Romgaz Medias, one of the country’s largest gas producers.

Romania’s national gas consumption stood at around 18 billion cubic meters last year. The country’s national gas output accounted for around 12 billion cubic meters of the total consumption in 2007, while the remainder came from imports.

The interconnection with Moldova has been planned for several years, but Gazprom did not show any interest in supplying the natural gas, the official said. Gazprom took over the gas supply system in Moldova in exchange for the country’s debts towards the Russian company.

As regards the gas network connection with Serbia, the official said that discussions have started before Romania joined the European Union, on January 1, 2007.

Romania imports natural gas indirectly from Russia by "take or pay" agreements, and the possible direct imports from this country would not annul the contracts by which some companies bring Gazprom’s natural gas into Romania.