Romania’s Romgaz To Ink Lease Deals For Gas Deposits In Poland, Slovakia

Romgaz Medias, one of Romania’s largest gas producers, will sign in a few weeks lease deals for gas deposits exploitation in Poland and Slovakia, the company’s deputy general manager Lucian Stancu said Friday.

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Stancu did not stipulate the name of the foreign companies that Romgaz will collaborate with.

The deals are part of Ministry of Economy and Finance strategy to approach gas production and construction of gas storage facilities abroad, including Central Asia.

Romgaz Medias reported a preliminary profit before tax of RON834.32 million in 2007, up 15% compared with RON719.85 million a year before.

Romgaz has an output of around 6 billion cubic meters per year, representing nearly 50% of the country's total gas demand.

Romgaz is one of Romania’s major gas producers next to largest vertically integrated oil company Petrom (SNP.RO).

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