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Romgaz has new branch in Republic of Moldova - Chisinau branch for natural gas supply

June 20, 2024

The Romgaz branch in Chisinau was registered on Thursday with the Public Services Agency of the Republic of Moldova, in the State Register of Legal Entities, the company informs through a release ."The process of registering the Romgaz Branch in Chisinau falls within the scope of the company's actions in order to expand its gas supply activity at the regional level, an objective foreseen in the company's strategy for the period 2021 - 2030. Romgaz wants to contribute to ensuring the security of gas supply natural resources in the Republic of Moldova, and the step taken today ensures the prerequisites for achieving this goal," stated Razvan Popescu, general director of Romgaz, quoted in the press release.For his part, Aristotel Jude, deputy general director of Romgaz, stated that in the next period the company will take the necessary steps to obtain the natural gas supply license on the territory of the Republic of Moldova."We are convinced that the presence of Romgaz in the Republic of Moldova and the trading of natural gas on the centralized market of the Republic of Moldova will effectively contribute to the liberalization of the natural gas market in this country and the creation of the premises necessary to establish a real price for the benefit of consumers", Jude pointed out.The Romgaz National Gas Company is the largest producer and main supplier of natural gas in Romania. The company is admitted to trading on the market of the Bucharest Stock Exchange (BVB) and the London Stock Exchange (LSE). The main shareholder is the Romanian state with a 70% stake. The company has a vast experience in the field of natural gas exploration and production, its history starting more than 100 years ago, in 1909.Romgaz carries out geological exploration in order to discover new gas deposits, produces methane gas by exploiting deposits from the company's portfolio, stores natural gas underground, performs interventions, capital repairs and special operations at wells and provides professional technological transport services. In 2013, Romgaz expanded its field of activity by assimilating the thermal power plant in Iernut, thus becoming a producer and supplier of electricity.On August 1, 2022, Romgaz became the sole shareholder of Romgaz Black Sea Limited (established ExxonMobil Exploration and Production Romania Limited), following the completion of the acquisition transaction and the transfer of all shares issued by (representing 100% of the share capital of) ExxonMobil Exploration and Production Romania Limited, which holds 50% of the rights acquired and the obligations assumed by the Oil Agreement for the deep water area of the XIX Neptun offshore perimeter in the Black Sea.

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