Romanian Energy Watchdog Grants Pwr Trading License To Distrigaz Sud

"ANRE granted the license Thursday," Distrigaz Sud PR representative George Carpov said.

Distrigaz Sud has not provided additional data but added the company’s owner, French utility Gaz de France, sells gas as well as electric power on the market.

Distrigaz Sud operates a network of 14,500 kilometers of pipes throughout 19 counties, including capital city Bucharest.

The company aims to invest some RON300 million in 2008, half of which targets the upgrade of gas distribution networks.

Distrigaz Sud is majority-owned by Gaz de France, which paid EUR128 million for a 30% stake in Distrigaz Sud in 2004 and later raised its stake to 51% through a EUR183 million share capital increase